UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED ~~JUNE~~SEPTEMBER 30, 2021

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

COMMISSION FILE NUMBER 000-55805

GULF WEST SECURITY NETWORK, INC.

(Exact name of registrant as specified in its charter)

Nevada		82-2908492
(State of incorporation)		(I.R.S. Employer Identification No.)

2851 Johnson Street, Unit #194

Lafayette, LA 70503

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (337) 210-8790

Not applicable

(Former name, address and fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
N/A	N/A	N/A

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of ~~August~~November 1510, 2021, there were 4,618,250 shares of our common stock, par value $0.001 per share, outstanding.

GULF WEST SECURITY NETWORK, INC.

FORM 10-Q

FOR THE ~~THREE~~NINE MONTHS ENDED ~~JUNE~~SEPTEMBER 30, 2021

TABLE OF CONTENTS

		PAGE	~~PAGE~~
PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements		3
Item 1. Financial Statements		3-21
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		4
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		22
Item 3.	Quantitative and Qualitative Disclosure About Market Risk		7
Item 3. Quantitative and Qualitative Disclosure About Market Risk		26
Item 4.	Controls and Procedures		7
Item 4. Controls and Procedures		26
PART II – OTHER INFORMATION		27
Item 1.	Legal Proceedings		8
Item 1. Legal Proceedings		27
Item 1A.	Risk Factors		8
Item 1A. Risk Factors		27
Item 2.	Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities		2
Item 2. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities		27
Item 3.	Defaults Upon Senior Securities		8
Item 3. Defaults Upon Senior Securities		27
Item 4.	Mine Safety Disclosure		8
Item 4. Mine Safety Disclosure		27
Item 5.	Other Information		8
Item 5. Other Information		27
Item 6.	Exhibits		9
Item 6. Exhibits		28
SIGNATURES		29	10
EXHIBIT INDEX

- 2 - Table of Contents

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

Gulf West Security Network, Inc.

A Nevada Corporation

Condensed Consolidated Financial Statements (Unaudited)

~~June~~September 30, 2021

- 3 -

Gulf West Security Network, Inc.

TABLE OF CONTENTS

		Page
Condensed Consolidated Financial Statements:		3
Condensed Consolidated Balance Sheets as of June 30, 2021 (Unaudited) and December 31, 2020		F-2
Condensed Consolidated Balance Sheets as of September 30, 2021 (Unaudited) and December 31, 2020		5
Condensed Consolidated Statements of Operations (Unaudited) for the three and six months ended June 30, 2021 and 2020		F-3
Condensed Consolidated Statements of Operations (Unaudited) for the three and nine months ended September 30, 2021 and 2020		6
Condensed Consolidated Statements of Deficiency in Stockholders' Equity (Unaudited) for the six months ended June 30, 2021 and 2020		F-4
Condensed Consolidated Statements of Deficiency in Stockholders’ Equity (Unaudited) for the nine months ended September 30, 2021 and 2020		7
Condensed Consolidated Statements of Cash Flows (Unaudited) for the six months ended June 30, 2021 and 2020		F-5
Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 30, 2021 and 2020		8
Notes to Unaudited Condensed Consolidated Financial Statements		F9-621

F-1 4 - Table of Contents

GULF WEST SECURITY NETWORK, INC.~~CONDENSED CONSOLIDATED BALANCE SHEETS As of June 30, 2021 (Unaudited) and December 31, 2020~~

	June 30,2021			December 31, 2020
ASSETS
Current Assets
Cash	$	4,589		$	4,505
Accounts receivable		4,908			2,478
Prepaid expenses		27,252			27,396
Total Current Assets		36,749			34,379
Total assets	$	36,749		$	34,379
LIABILITIES AND DEFICIENCY IN STOCKHOLDERS’ EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities	$	112,379		$	112,235
Accounts payable - related party		9,992			8,584
Accrued wages - related party		536,294			420,702
Unearned revenue		-			400
Bridge loan from affiliates		1,818,666			1,728,166
Liabilities of discontinued operations		481,845			481,690
Total Liabilities		2,959,176			2,751,777
Deficiency in Stockholders’ equity
Preferred Stock, $0.001 par value, 25,000,000 shares authorized
Preferred stock Series A, 635,000 and 635,000 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively		635			635
Preferred stock Series B, nil issued or outstanding		-			-
Preferred stock Series C, 1 share issued and outstanding		-			-
Preferred stock Series D, 1,000 shares issued and outstanding		1			1
Common stock, $0.001 par value; 475,000,000 shares authorized; 4,618,250 and 4,618,250 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively		4,618			4,618
Stock payable		200,000			200,000
Additional paid in capital		157,208			157,208
Accumulated deficit		(3,284,889	)		(3,079,860	)
Total deficiency in stockholders’ equity		(2,922,427	)		(2,717,398	)
Total liabilities and deficiency in stockholders’ equity	$	36,749		$	34,379

CONDENSED CONSOLIDATED BALANCE SHEETS

~~See~~As ~~accompanying~~of ~~notes~~September 30, ~~which~~2021 ~~are~~(Unaudited) anand ~~integral~~December ~~part~~31, ~~of these unaudited condensed consolidated financial statements.~~2020

F-2 Table of Contents

	September 30, 2021			December 31, 2020

ASSETS
Current Assets
Cash	$	7,220		$	4,505
Accounts receivable		5,512			2,478
Prepaid expenses		28,400			27,396
Total Current Assets		41,132			34,379

Total assets	$	41,132		$	34,379

LIABILITIES AND DEFICIENCY IN STOCKHOLDERS’ EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities	$	115,378		$	112,235
Accounts payable - related party		6,264			8,584
Accrued wages - related party		602,294			420,702
Unearned revenue		-			400
Bridge loan from affiliates		1,839,666			1,728,166
Liabilities of discontinued operations		521,850			481,690
Total Liabilities		3,085,452			2,751,777

Deficiency in Stockholders’ equity
Preferred Stock, $0.001 par value, 25,000,000 shares authorized
Preferred stock Series A, 635,000 and 635,000 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively		635			635
Preferred stock Series B, nil issued or outstanding		-			-
Preferred stock Series C, 1 share issued and outstanding		-			-
Preferred stock Series D, 1,000 shares issued and outstanding		1			1
Common stock, $0.001 par value; 475,000,000 shares authorized; 4,618,250 and 4,618,250 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively		4,618			4,618
Stock payable		200,000			200,000
Additional paid in capital		157,208			157,208
Accumulated deficit		(3,406,782	)		(3,079,860	)
Total deficiency in stockholders’ equity		(3,044,320	)		(2,717,398	)

Total liabilities and deficiency in stockholders’ equity	$	41,132		$	34,379

~~GULF~~See ~~WEST~~accompanying ~~SECURITY NETWORK~~notes, ~~INC.CONDENSED~~which ~~CONSOLIDATED~~are ~~STATEMENTS~~an OFintegral ~~OPERATIONS~~part ~~(UNAUDITED)For~~of ~~the~~these ~~six~~unaudited ~~months~~condensed ~~ended~~consolidated ~~June~~financial ~~30, 2021 and 2020~~statements.

	3 Months Ended						6 Months Ended
	June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2020
Revenue
Monitoring and related services	$	2,757		$	2,228		$	5,298		$	4,927
Product sales and installation		-			1,260			-			1,260
Total Revenue		2,757			3,488			5,298			6,187
Cost of Revenue		1,026			1,038			2,012			2,162
Gross Profit		1,731			2,450			3,286			4,025
Operating Expenses
General and administrative		97,487			200,770			208,161			323,439
Sales and marketing		-			-			-			26
Total Operating Expenses		97,487			200,770			208,161			323,465
Other Income/(Expense)
Interest expense		(2,854	)		(6,039	)		(5,651	)		(9,109	)
Total Other Income/(Expense)		(2,854	)		(6,039	)		(5,651	)		(9,109	)
Operating Loss		(98,610	)		(204,359	)		(210,526	)		(328,549	)
Loss from continuing operations before provision for income taxes		(98,610	)		(204,359	)		(210,526	)		(328,549	)
Provision for Income Taxes		-			-			-			-
Loss from continuing operations		(98,610	)		(204,359	)		(210,526	)		(328,549	)
Income (loss) from discontinued operations		32,164			(133,123	)		5,497			(100,741	)
Net Loss	$	(66,446	)	$	(337,482	)	$	(205,029	)	$	(429,290	)
Basic and diluted net loss per common share, continuing operations	$	(0.02	)	$	(0.05	)	$	(0.05	)	$	(0.07	)
Basic and diluted net loss per common share, discontinued operations	$	0.01		$	(0.03	)	$	0.00		$	(0.02	)
Weighted average shares outstanding		4,618,250			4,518,250			4,618,250			4,518,250

- 5 -

Table of Contents

~~See~~GULF ~~accompanying~~WEST ~~notes~~SECURITY NETWORK, ~~which are an integral part of these unaudited condensed consolidated financial statements~~INC.

~~F-3~~CONDENSED ~~Table~~CONSOLIDATED ofSTATEMENTS ~~Contents~~OF OPERATIONS (UNAUDITED)

~~GULF WEST SECURITY NETWORK, INC.CONDENSED CONSOLIDATED STATEMENTS OF DEFICIENCY IN STOCKHOLDERS’ EQUITY (UNAUDITED)~~For the ~~six~~three and nine months ended ~~June~~September 30, 2021 and 2020

	Preferred StockSeries A						Preferred Stock Series B						Preferred Stock Series C				Preferred Stock Series D				Common Stock						Additional						Total Deficiency in
	3 Months Ended						9 Months Ended
	Number of Shares			Amount			Number of Shares			Amount			Number of Shares		Amount		Number of Shares		Amount		Number of Shares		Amount		Stock Payable		Paid-In Capital			Accumulated Deficit			Stockholders' Equity
	September 30, 2021			September 30, 2020			September 30, 2021			September 30, 2020
Balance at December 31, 2019		742,500		$	743			-		$	-			1	$	-		1,000	$	1		4,518,250	$	4,518	$	-	$	177,210		$	(2,288,000	)	$	(2,105,528	)
Revenue
Net loss		-			-			-			-			-		-		-		-		-		-		-		-			(91,808	)		(91,808	)
Monitoring and related services	$	2,646		$	2,831		$	7,944		$	7,758
Balance at March 31, 2020		742,500			743			-			-			1		-		1,000		1		4,518,250		4,518		-		177,210			(2,379,808	)		(2,197,336	)
Product sales and installation		-			-			-			1,260
Net loss		-			-			-			-			-		-		-		-		-		-		-		-			(337,482	)		(337,482	)
Total Revenue		2,646			2,831			7,944			9,018
Balance at June 30, 2020		742,500			743			-			-			1		-		1,000		1		4,518,250		4,518		-		177,210			(2,717,290	)		(2,534,818	)
Cost of Revenue		969			1,077			2,981			3,239
Redemption of preferred stock and issuance of common stock		(107,500	)		(108	)		-			-			-		-		-		-		100,000		100		-		(20,002	)		-			(20,010	)
Gross Profit		1,677			1,754			4,963			5,779
Net loss		-			-			-			-			-		-		-		-		-		-		-		-			(254,792	)		(254,792	)
Operating Expenses
Balance at September 30, 2020		635,000			635			-			-			1		-		1,000		1		4,618,250		4,618		-		157,208			(2,972,082	)		(2,809,620	)
General and administrative		83,313			248,774			291,474			572,213
Settlement of liabilities of discontinued operations		-			-			-			-			-		-		-		-		-		-		200,000		-			-			200,000
Sales and marketing		-			-			-			26
Net loss		-			-			-			-			-		-		-		-		-		-		-		-			(107,778	)		(107,778	)
Total Operating Expenses		83,313			248,774			291,474			572,239
Balance at December 31, 2020		635,000			635			-			-			1		-		1,000		1		4,618,250		4,618		200,000		157,208			(3,079,860	)		(2,717,398	)
Other Income/(Expense)
Net loss		-			-			-			-			-		-		-		-		-		-		-		-			(138,583	)		(138,583	)
Net gain on debt settlements		-			85,025			-			85,025
Balance at March 31, 2021		635,000			635			-			-			1		-		1,000		1		4,618,250		4,618		200,000		157,208			(3,218,443	)		(2,855,981	)
Interest expense		(3,162	)		(5,781	)		(8,813	)		(14,890	)
Net loss		-			-			-			-			-		-		-		-		-		-		-		-			(66,446	)		(66,446	)
Loss on option dispute settlement		-			(30,000	)		-			(30,000	)
Balance at June 30, 2021		635,000		$	635			-		$	-			1	$	-		1,000	$	1		4,618,250	$	4,618	$	200,000	$	157,208		$	(3,284,889	)	$	(2,922,427	)
Total Other Income/(Expense)		(3,162	)		49,244			(8,813	)		40,135
Operating Loss		(84,798	)		(197,776	)		(295,324	)		(526,325	)
Loss from continuing operations before provision for income taxes		(84,798	)		(197,776	)		(295,324	)		(526,325	)
Provision for Income Taxes		-			-			-			-
Loss from continuing operations		(84,798	)		(197,776	)		(295,324	)		(526,325	)
Income (loss) from discontinued operations		(37,095	)		(57,016	)		(31,598	)		(157,757	)
Net Loss	$	(121,893	)	$	(254,792	)	$	(326,922	)	$	(684,082	)
Basic and diluted net loss per common share, continuing operations	$	(0.02	)	$	(0.04	)	$	(0.06	)	$	(0.12	)
Basic and diluted net loss per common share, discontinued operations	$	(0.01	)	$	(0.01	)	$	(0.01	)	$	(0.03	)
Weighted average shares outstanding		4,618,250			4,521,430			4,618,250			4,521,430

See accompanying notes, which are an integral part of these unaudited condensed consolidated financial statements.

F-4 6 - Table of Contents

GULF WEST SECURITY NETWORK, INC.~~CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)For the six months ended June 30, 2021 and 2020~~

	6 Months Ended
	June 30, 2021			June 30, 2020
Cash Flows From Operating Activities
Net Loss	$	(205,029	)	$	(429,290	)
Adjustments to reconcile net loss to net cash used in operating activities
Net income from discontinued operations		(5,497	)		(100,741	)
Bad debts		-			2,147
Changes in operating assets and liabilities:
Accounts receivable		(2,430	)		(1,131	)
Prepaid expenses		144			(1,179	)
Accounts payable and accrued liabilities		144			725
Accrued wages - related party		115,592			88,174
Unearned revenue		(400	)		-
Net cash used in operating activities – continuing operations		(97,476	)		(441,295	)
Net cash used in operating activities – discontinued operations		5,652			209,646
Cash Flows From Financing Activities
Advances from related party, net		1,408			14,128
Proceeds from bridge loan from affiliates		90,500			210,500
Cash provided by financing activities		91,908			224,628
Net Change In Cash		84			(7,021	)
Cash at Beginning of Year		4,505			10,045
Cash at End of Year	$	4,589		$	3,024
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-

CONDENSED CONSOLIDATED STATEMENTS OF DEFICIENCY IN STOCKHOLDERS’ EQUITY (UNAUDITED)

~~See~~For ~~accompanying~~the ~~notes,~~nine ~~which~~months ~~are~~ended anSeptember ~~integral~~30, ~~part~~2021 ofand ~~these unaudited condensed consolidated financial statements.~~2020

F-5 Table of Contents

	Preferred Stock Series A						Preferred Stock Series B				Preferred Stock Series C				Preferred Stock Series D				Common Stock						Additional						Total Deficiency in
	Number of Shares			Amount			Number of Shares		Amount		Number of Shares		Amount		Number of Shares		Amount		Number of Shares		Amount		Stock Payable		Paid-In Capital			Accumulated Deficit			Stockholders' Equity

Balance at December 31, 2019		742,500		$	743			-	$	-		1	$	-		1,000	$	1		4,518,250	$	4,518	$	-	$	177,210		$	(2,288,000	)	$	(2,105,528	)
Net loss		-			-			-		-		-		-		-		-		-		-		-		-			(91,808	)		(91,808	)
Balance at March 31, 2020		742,500			743			-		-		1		-		1,000		1		4,518,250		4,518		-		177,210			(2,379,808	)		(2,197,336	)
Net loss		-			-			-		-		-		-		-		-		-		-		-		-			(337,482	)		(337,482	)
Balance at June 30, 2020		742,500			743			-		-		1		-		1,000		1		4,518,250		4,518		-		177,210			(2,717,290	)		(2,534,818	)
Redemption of preferred stock and issuance of common stock		(107,500	)		(108	)		-		-		-		-		-		-		100,000		100		-		(20,002	)		-			(20,010	)
Net loss		-			-			-		-		-		-		-		-		-		-		-		-			(254,792	)		(254,792	)
Balance at September 30, 2020		635,000			635			-		-		1		-		1,000		1		4,618,250		4,618		-		157,208			(2,972,082	)		(2,809,620	)
Settlement of liabilities of discontinued operations		-			-			-		-		-		-		-		-		-		-		200,000		-			-			200,000
Net loss		-			-			-		-		-		-		-		-		-		-		-		-			(107,778	)		(107,778	)
Balance at December 31, 2020		635,000			635			-		-		1		-		1,000		1		4,618,250		4,618		200,000		157,208			(3,079,860	)		(2,717,398	)
Net loss		-			-			-		-		-		-		-		-		-		-		-		-			(138,583	)		(138,583	)
Balance at March 31, 2021		635,000			635			-		-		1		-		1,000		1		4,618,250		4,618		200,000		157,208			(3,218,443	)		(2,855,981	)
Net loss		-			-			-		-		-		-		-		-		-		-		-		-			(66,446	)		(66,446	)
Balance at June 30, 2021		635,000			635			-		-		1		-		1,000		1		4,618,250		4,618		200,000		157,208			(3,284,889	)		(2,922,427	)
Net loss		-			-			-		-		-		-		-		-		-		-		-		-			(121,893	)		(121,893	)
Balance at September 30, 2021		635,000		$	635			-	$	-		1	$	-		1,000	$	1		4,618,250	$	4,618	$	200,000	$	157,208		$	(3,406,782	)	$	(3,044,320	)

~~GULF~~See ~~WEST~~accompanying ~~SECURITY NETWORK~~notes, ~~INC.~~which ~~NOTES~~are TOan ~~CONDENSED~~integral ~~CONSOLIDATED~~part ~~FINANCIAL STATEMENTS (UNAUDITED)As~~ of ~~June~~these ~~30,~~condensed ~~2021~~consolidated ~~and~~financial ~~December 31, 2020 and for the six months ended June 30, 2021 and 2020~~statements.

~~NOTE~~- 1:7 ~~NATURE~~- OFTable ~~THE~~of ~~BUSINESS~~ Contents

~~Gulf~~GULF ~~West~~WEST ~~Security~~SECURITY ~~Network~~NETWORK, ~~Inc~~INC. (a Nevada Corporation), and its wholly-owned subsidiaries, formerly known as “NuLife Sciences, Inc.” (“we”, “us”, “our”, “Gulf West”, “GWSN”, or the “Company”), are principally engaged in providing residential and commercial electronic security, home automation, and systems integration services on both a retail and wholesale basis.

~~The~~CONDENSED ~~Company’s~~CONSOLIDATED ~~retail~~STATEMENTS ~~division,~~OF ~~which~~CASH ~~includes~~FLOWS ~~its wholly-owned subsidiary LJR Security Services, Inc.~~ (~~a Louisiana Corporation~~UNAUDITED) (“LJR”), is actively engaged in the hands-on design, engineering, sales, installation, after-market servicing, inspection and remote electronic monitoring of home (residential) burglar, fire and medical alarm systems as well as fully-integrated business (commercial) security and automation systems in the United States.

~~The~~For ~~Company’s wholesale division, which operates under~~ the ~~name~~nine ~~Gulf~~months ~~West~~ended ~~Security~~September ~~Network (or “Gulf West”)~~30, is2021 ~~further engaged in the development~~ and expansion of a proprietary coalition (alliance or network) of independently-branded life safety and property protection providers, fire alert and suppression system installers, electronic remote monitoring and video surveillance specialists, smart home designers, commercial systems integrators, structured wiring professionals and electrical contractors.2020

Merger

	9 Months Ended
	September 30, 2021			September 30, 2020
Cash Flows From Operating Activities
Net Loss	$	(326,922	)	$	(684,082	)
Adjustments to reconcile net loss to net cash used in operating activities
Net income from discontinued operations		31,598			(157,757	)
Bad debts		-			2,147
Net gain on debt settlements		-			(85,025	)
Changes in operating assets and liabilities:
Accounts receivable		(3,034	)		(1,879	)
Prepaid expenses		(1,004	)		(1,073	)
Accounts payable and accrued liabilities		3,143			(25,422	)
Accrued wages - related party		181,592			141,674
Unearned revenue		(400	)		-
Net cash used in operating activities – continuing operations		(115,027	)		(811,417	)
Net cash used in operating activities – discontinued operations		8,562			329,120

Cash Flows From Financing Activities
Advances from related party, net		(2,320	)		5,674
Proceeds from bridge loan from affiliates		111,500			492,725
Redemption of preferred stock		-			(20,010	)
Cash provided by financing activities		109,180			478,389

Net Change In Cash		2,715			(3,908	)

Cash at Beginning of Year		4,505			10,045
Cash at End of Period	$	7,220		$	6,137

Supplemental Disclosure of Cash Flow Information
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-

OnSee ~~August~~accompanying 9notes, ~~2018,~~which ~~the~~are ~~Board of Directors of the Company through its wholly-owned subsidiary NuLife Acquisition Corp. (“NuLife Sub”) approved and executed~~ an ~~agreement~~integral ofpart ~~merger and plan~~ of ~~reorganization~~these ~~(the~~unaudited ~~“Merger~~condensed ~~Agreement”),~~consolidated tofinancial become effective at such time as the articles of merger have been filed with the Secretary of State of Louisiana (the “Effective Time”), and after the satisfaction or waiver by the parties thereto of the conditions set forth in Article VI of the Merger Agreementstatements. Pursuant to the terms of the Merger Agreement, and in exchange for all one hundred (100) issued and outstanding shares of LJR Security Services, Inc. (“LJR”), LJR stockholders received one thousand (1,000) shares of series D senior convertible preferred stock, par value $.001 per share (the “Series D Preferred Stock”) of the Company, convertible into fifty million two hundred thirty-three thousand five hundred forty-one (50,239,541) shares of common stock of the Company. In addition, the LJR shareholder received one share of series C super-voting preferred stock of NuLife which granted the holder 50.1% of the votes of NuLife at all times.

~~The~~- ~~merger~~8 ~~was accounted for as a reverse merger, whereby LJR was considered the accounting acquirer and became our wholly~~-~~owned~~ ~~subsidiary.~~Table In accordance with the accounting treatment for a “reverse merger”, the Company’s historical financial statements prior to the reverse merger has been replaced with the historical financial statements of LJR prior to the reverse merger. The financial statements after completion of the reverse merger include the assets, liabilities, and results of operations of the combined company from and after the closing date of the reverse merger, with only certain aspects of pre-consummation stockholders’ equity remaining in the consolidated financial statements.Contents

~~F-6~~GULF ~~Table~~WEST ofSECURITY ~~Contents~~NETWORK, INC.

~~GULF WEST SECURITY NETWORK, INC.~~ NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)~~As of June 30, 2021 and December 31, 2020 and for the six months ended June 30, 2021 and 2020~~

~~Restatement~~As of ~~Articles~~September of30, ~~Incorporation~~2021 and December 31, 2020 and for the nine months ended September 30, 2021 and 2020

OnNOTE ~~September~~1: ~~19,~~NATURE ~~2018,~~OF ~~LJR~~THE ~~Security~~BUSINESS Services, Inc. amended and restated its articles of incorporation providing for a change in the Company’s name to “Gulf West Security Network, Inc.” The Company’s authorized shares of common stock, preferred stock and the par value of the stock will remain unchanged. The Company also amended and restated its bylaws to reflect the name change.

OnGulf ~~September~~West ~~20,~~Security ~~2018~~Network, ~~the~~Inc. ~~Board~~(a ofNevada ~~Directors of the Company designated one (1~~Corporation), ~~share~~and ofits ~~Series~~wholly-owned Csubsidiaries, ~~Preferred~~formerly ~~Stock~~known ~~(the~~as “~~Series~~NuLife CSciences, ~~Stock~~Inc.”) ~~and one thousand~~ (1“we”,~~000)~~ ~~shares~~“us”, of“our”, ~~Series~~“Gulf DWest”, ~~Preferred~~“GWSN”, ~~Stock~~or (the “~~Series D Stock~~Company”)., ~~The~~are ~~classes~~principally ofengaged ~~Series~~in Cproviding ~~Stock~~residential and ~~Series~~commercial Delectronic ~~Stock~~security, ~~were~~home ~~created~~automation, inand ~~anticipation~~systems ofintegration ~~the~~services ~~closing~~on ofboth ~~the~~a ~~Merger~~retail ~~Agreement~~and wholesale basis.

~~NOTE~~The 2:Company’s ~~SUMMARY~~retail OFdivision, ~~SIGNIFICANT~~which ~~ACCOUNTING~~includes ~~POLICIES~~its wholly-owned subsidiary LJR Security Services, Inc. (a Louisiana Corporation) (“LJR”), is actively engaged in the hands-on design, engineering, sales, installation, after-market servicing, inspection and remote electronic monitoring of home (residential) burglar, fire and medical alarm systems as well as fully-integrated business (commercial) security and automation systems in the United States.

~~Use~~The Company’s wholesale division, which operates under the name Gulf West Security Network (or “Gulf West”), is further engaged in the development and expansion of ~~Estimates~~a proprietary coalition (alliance or network) of independently-branded life safety and property protection providers, fire alert and suppression system installers, electronic remote monitoring and video surveillance specialists, smart home designers, commercial systems integrators, structured wiring professionals and electrical contractors.

The preparation of the condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.Merger

~~Management~~On ~~makes~~August ~~estimates~~9, ~~that~~2018, ~~affect~~the ~~certain~~Board ~~accounts~~of ~~including~~Directors ~~deferred~~of ~~income~~the ~~tax~~Company ~~assets~~through its wholly-owned subsidiary NuLife Acquisition Corp. (“NuLife Sub”) approved and executed an agreement of merger and plan of reorganization with LJR (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, ~~accrued~~NuLife ~~expenses~~Sub merged with and into LJR, ~~fair~~with ~~value~~LJR being the surviving entity and becoming the wholly-owned subsidiary of ~~equity~~the ~~instruments~~Company, and ~~reserves~~all ~~for~~one ~~any~~hundred ~~other~~(100) ~~commitments~~issued orand ~~contingencies~~outstanding shares of common stock of LJR, held by the sole stockholder of LJR (the “LJR Stockholder”) were exchanged into one thousand (1,000) shares of series D senior convertible preferred stock, par value $.001 ~~Any~~per ~~adjustments~~share ~~applied~~(the to“Series ~~estimates~~D ~~are~~Preferred ~~recognized~~Stock”) inof the ~~period~~Company, inconvertible into fifty million two hundred thirty-three thousand five hundred forty-one (50,239,541) shares of common stock of the Company. In addition, the LJR Stockholder received one share of series C super-voting preferred stock of the Company which ~~such~~granted ~~adjustments~~the ~~are~~holder ~~determined~~50.1% of the votes of the Company at all times.

~~Principles~~The merger was accounted for as a reverse merger, whereby LJR was considered the accounting acquirer and became our wholly-owned subsidiary. In accordance with the accounting treatment for a “reverse merger”, the Company’s historical financial statements prior to the reverse merger has been replaced with the historical financial statements of ~~Consolidation~~LJR prior to the reverse merger. The financial statements after completion of the reverse merger include the assets, liabilities, and results of operations of the combined company from and after the closing date of the reverse merger, with only certain aspects of pre-consummation stockholders’ equity remaining in the consolidated financial statements.

~~The~~- ~~Company’s~~9 ~~condensed~~- ~~consolidated~~Table ~~financial statements include all accounts~~ of Gulf West Security Network, Inc., LJR, and NuLife Sciences, Inc. from September 28, 2018, the consummation of the Merger Agreement. All inter-company balances and transactions have been eliminated in consolidation.Contents

~~Basis~~GULF ofWEST ~~Presentation~~SECURITY NETWORK, INC.

~~The~~NOTES ~~accompanying~~TO ~~unaudited~~CONDENSED ~~condensed~~CONSOLIDATED ~~consolidated~~FINANCIAL ~~financial~~STATEMENTS ~~statements have been prepared in accordance with Generally Accepted Accounting Principles~~ (~~“GAAP”~~UNAUDITED) in the United States of America (“U.S.”) as promulgated by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and with the rules and regulations of the U.S Securities and Exchange Commission (“SEC”). In our opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (which are of a normal recurring nature) necessary for a fair presentation. Interim results are not necessarily indicative of results for a full year. Therefore, the interim unaudited condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements contained in the Company’s Annual Report on Form 10-K.

~~F-7~~As ~~Table~~ of ~~Contents~~September 30, 2021 and December 31, 2020 and for the nine months ended September 30, 2021 and 2020

~~GULF~~Restatement ~~WEST~~of ~~SECURITY~~Articles ~~NETWORK, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)As~~ of ~~June 30, 2021 and December 31, 2020 and for the six months ended June 30, 2021 and 2020~~Incorporation

~~Reclassifications~~On September 19, 2018, the Company amended and restated its articles of incorporation providing for a change in the Company’s name to “Gulf West Security Network, Inc.” The Company’s authorized shares of common stock, preferred stock and the par value of the stock remained unchanged. The Company also amended and restated its bylaws to reflect the name change.

~~Certain~~On ~~reclassifications~~September ~~have~~20, ~~been~~2018, ~~made~~the toBoard of Directors of the ~~prior~~Company ~~period’s~~designated ~~financial~~one ~~statements~~(1) toshare ~~enhance~~of ~~comparability~~Series ~~with~~C Preferred Stock (the ~~current~~“Series ~~period’s~~C ~~financial~~Stock”) ~~statements.~~and Asone athousand ~~result~~(1,000) ~~certain~~shares ~~line~~of ~~items~~Series ~~have~~D ~~been~~Preferred ~~amended~~Stock in (the ~~condensed~~“Series ~~consolidated~~D ~~balance~~Stock”). ~~sheets~~The ~~and~~classes ~~consolidated~~of ~~statements~~Series ofC ~~cash~~Stock ~~flow.~~and ~~Comparative~~Series ~~figures~~D ~~have~~Stock ~~been~~were ~~adjusted~~created toin ~~conform~~anticipation toof the ~~period’s~~closing ~~presentation.~~of ~~These~~the ~~reclassifications~~merger, ~~had~~pursuant noto ~~effect~~the onterms of the ~~reported~~Merger ~~net loss~~Agreement.

~~Cash~~NOTE ~~and~~2: ~~Cash~~SUMMARY ~~Equivalents~~OF SIGNIFICANT ACCOUNTING POLICIES

~~The~~Use ~~Company considers all cash on hand and in banks, including accounts in book overdraft positions, certificates~~ of deposit and other highly-liquid investments with maturities of one year or less, when purchased, to be cash. As of June 30, 2021 and December 31, 2020, the Company had no cash equivalents. The Company maintains its cash in bank deposit accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and periodically evaluates the credit worthiness of the financial institutions and has determined the credit exposure to be negligible.Estimates

~~Capitalization~~The preparation of ~~Fixed~~the ~~Assets~~condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

~~The~~Management ~~Company~~makes ~~capitalizes~~estimates ~~expenditures related to property and equipment, subject to a minimum rule,~~ that ~~have~~affect acertain ~~useful~~accounts ~~life~~including ~~greater~~deferred ~~than~~income ~~one~~tax ~~year for: (1)~~ assets ~~purchased; (2) existing assets that are replaced~~, ~~improved~~accrued ~~or the useful lives have been extended; or (3) all land~~expenses, ~~regardless~~fair ofvalue ~~cost. Acquisitions~~ of ~~new~~equity ~~assets,~~instruments ~~additions,~~and ~~replacements~~reserves ~~and~~for ~~improvements~~any (other ~~than~~commitments ~~land)~~or ~~costing~~contingencies. ~~less~~Any ~~than~~adjustments ~~the~~applied ~~minimum rule in addition~~ to ~~maintenance~~estimates ~~and~~are ~~repair~~recognized ~~costs,~~in ~~including~~the ~~any~~period ~~planned~~in ~~major~~which ~~maintenance~~such ~~activities,~~adjustments are ~~expensed as incurred~~determined.

~~Revenue~~Principles ~~Recognition~~of Consolidation

The Company ~~retrospectively adopted FASB Accounting Standards Update No. 2014-09 “Revenue from Contracts with Customers”, on January 1, 2018, which did not have a material impact on the Company~~’s condensed consolidated financial statements. ~~The~~include ~~Company~~all ~~generates~~accounts ~~revenue~~of Gulf ~~primarily~~West ~~through~~Security ~~contractual~~Network, ~~monthly recurring fees received for monitoring and related services provided to customers~~Inc. ~~In transactions involving security systems that are sold outright to the customer~~, ~~or where equipment is already owned by the customer~~LJR, ~~the~~and ~~Company’s~~NuLife ~~performance obligations include monitoring~~Sciences, ~~related~~Inc. ~~services,~~from ~~and~~September ~~the sale and installation~~28, ~~or refurbish and repair~~2018, of the ~~security systems. Revenue associated with the sale and installation~~ consummation of ~~security systems is recognized once installation is complete and is reflected in installation and repair revenue in~~ the ~~condensed~~Merger ~~consolidated statements of operations~~Agreement. All ~~Revenue~~inter-company ~~associated~~balances ~~with monitoring~~ and ~~related~~transactions ~~services~~have isbeen ~~recognized~~eliminated ~~as those services are provided and is reflected~~ in ~~monitoring and related services revenue in the condensed consolidated statements of operations~~consolidation.

~~Early~~Basis ~~termination~~ of the contract by the customer results in a termination charge in accordance with the contract terms. Contract termination charges are recognized in revenue when collectability is probable and are reflected in monitoring and related revenue in the condensed consolidated statements of operations. Amounts collected from customers for sales and other taxes are reported net of the related amounts remitted.Presentation

~~F-8~~The ~~Table~~accompanying unaudited condensed consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) in the United States of ~~Contents~~America (“U.S.”) as promulgated by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and with the rules and regulations of the U.S Securities and Exchange Commission (“SEC”). In our opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (which are of a normal recurring nature) necessary for a fair presentation. Interim results are not necessarily indicative of results for a full year. Therefore, the interim unaudited condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

~~GULF~~- ~~WEST~~10 ~~SECURITY~~- ~~NETWORK,~~Table ~~INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)As~~ of ~~June 30, 2021 and December 31, 2020 and for the six months ended June 30, 2021 and 2020~~Contents

~~Barter~~GULF ~~Transactions~~WEST SECURITY NETWORK, INC.

~~The~~NOTES ~~Company~~TO ~~conducts~~CONDENSED ~~certain~~CONSOLIDATED ~~barter~~FINANCIAL ~~sales~~STATEMENTS through trade organizations for which it is a member, as are some of its customers. The barter transactions are generally related to the Company providing its security services, and the value of these services is recorded at fair value which is the contracted for value of the services with the customer, which is the more readily available measure as to its valuation.(UNAUDITED)

~~Fair~~As ~~Value~~of ~~Measurements~~September 30, 2021 and December 31, 2020 and for the nine months ended September 30, 2021 and 2020

~~Disclosures about fair value of financial instruments require disclosure of the fair value information, whether or not recognized in its balance sheet, where it is practicable to estimate that value.~~Reclassifications

InCertain ~~accordance~~reclassifications ~~with~~have ~~ASC~~been ~~Topic~~made ~~820,~~to ~~“Fair~~the ~~Value~~prior ~~Measurements~~period’s ~~and~~financial ~~Disclosures,”~~statements ~~the~~to ~~Company~~enhance ~~measures~~comparability ~~certain~~with ~~financial~~the ~~instruments~~current atperiod’s ~~fair~~financial ~~value~~statements. onAs a ~~recurring~~result, ~~basis.~~certain ~~ASC~~line ~~Topic~~items ~~820~~have ~~defines~~been ~~fair~~amended ~~value,~~in ~~established~~the acondensed ~~framework~~consolidated ~~for~~balance ~~measuring~~sheets ~~fair~~and ~~value~~consolidated instatements ~~accordance~~of ~~with~~cash ~~accounting~~flow. ~~principles~~Comparative ~~generally~~figures ~~accepted~~have inbeen adjusted to conform to the ~~United~~period’s ~~States,~~presentation. ~~and~~These ~~expands~~reclassifications ~~disclosures~~had ~~about~~no ~~fair~~effect ~~value~~on ~~measurements~~the reported net loss.

~~Fair~~Cash value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and ~~the~~Cash ~~lowest priority to unobservable inputs (Level 3 measurements). These tiers include:~~Equivalents

·The ~~Level~~Company 1,considers ~~defined~~all ascash ~~observable~~on ~~inputs~~hand ~~such~~and asin ~~quoted~~banks, ~~prices~~including ~~for~~accounts ~~identical instruments~~ in ~~active~~book ~~markets;~~overdraft ~~· Level 2~~positions, ~~defined~~certificates asof ~~inputs~~deposit and other ~~than~~highly-liquid ~~quoted~~investments ~~prices~~with inmaturities ~~active~~of ~~markets~~one ~~that~~year ~~are either directly~~ or ~~indirectly~~less, ~~observable~~when ~~such~~purchased, asto ~~quoted~~be ~~prices~~cash. ~~for~~As ~~similar~~of ~~instruments~~September in30, ~~active~~2021 ~~markets~~and orDecember ~~quoted~~31, ~~prices~~2020, ~~for~~the ~~identical~~Company orhad ~~similar~~no ~~instruments~~cash inequivalents. ~~markets~~The ~~that~~Company ~~are~~maintains ~~not~~its ~~active;~~cash ~~and~~in ·bank ~~Level~~deposit 3,accounts ~~defined as unobservable inputs in~~ which, ~~little~~at ortimes, nomay ~~market~~exceed ~~data~~federally ~~exists,~~insured ~~therefore~~limits. ~~requiring~~The anCompany ~~entity~~has tonot ~~develop~~experienced ~~its~~any ~~own~~losses ~~assumptions,~~in such asaccounts ~~valuations~~and ~~derived~~periodically ~~from~~evaluates ~~valuation~~the ~~techniques~~credit inworthiness ~~which~~of ~~one~~the orfinancial ~~more~~institutions ~~significant~~and ~~inputs~~has ordetermined ~~significant~~the ~~value~~credit ~~drivers~~exposure ~~are~~to ~~unobservable~~be negligible.

	Fair Value Measurement
	Carrying Value		Level 1		Level 2		Level 3
As of June 30, 2021
Derivative liabilities, debt and equity instruments	$	232,898		—		—	$	232,898
As of December 31, 2020
Derivative liabilities, debt and equity instruments	$	238,395		—		—	$	238,395

Capitalization of Fixed Assets

~~Financial~~The Company capitalizes expenditures related to property and equipment, subject to a minimum rule, that have a useful life greater than one year for: (1) assets purchased; (2) existing assets that are ~~considered~~replaced, ~~Level~~improved or the useful lives have been extended; or (3) ~~when~~all ~~their~~land, ~~fair~~regardless ~~values~~of ~~are~~cost. ~~determined~~Acquisitions ~~using~~of ~~pricing~~new ~~models~~assets, ~~discounted~~additions, ~~cash~~replacements ~~flow~~and ~~methodologies~~improvements or(other ~~similar~~than ~~techniques~~land) costing less than the minimum rule in addition to maintenance and atrepair ~~least~~costs, ~~one~~including ~~significant~~any ~~model~~planned ~~assumption~~major ormaintenance ~~input~~activities, isare ~~unobservable~~expensed as incurred.

~~F-9~~Revenue ~~Table of Contents~~Recognition

~~GULF~~The ~~WEST~~Company ~~SECURITY~~retrospectively ~~NETWORK~~adopted FASB Accounting Standards Update No. 2014-09 “Revenue from Contracts with Customers”, ~~INC~~on January 1, 2018, which did not have a material impact on the Company’s condensed consolidated financial statements. The ~~NOTES~~Company TOgenerates ~~CONDENSED~~revenue ~~CONSOLIDATED~~primarily ~~FINANCIAL~~through ~~STATEMENTS~~contractual ~~(UNAUDITED)As~~monthly ofrecurring ~~June~~fees 30received for monitoring and related services provided to customers. In transactions involving security systems that are sold outright to the customer, ~~2021~~or where equipment is already owned by the customer, the Company’s performance obligations include monitoring, related services, and ~~December~~the 31sale and installation, ~~2020~~or refurbish and ~~for~~repair, of the ~~six~~security ~~months~~systems. ~~ended~~Revenue ~~June~~associated ~~30,~~with ~~2021~~the sale and ~~2020~~installation of security systems is recognized once installation is complete and is reflected in installation and repair revenue in the condensed consolidated statements of operations. Revenue associated with monitoring and related services is recognized as those services are provided and is reflected in monitoring and related services revenue in the condensed consolidated statements of operations.

~~Changes~~Early intermination ~~Level~~of 3the ~~assets~~contract ~~measured~~by atthe ~~fair~~customer ~~value~~results ~~for~~in a termination charge in accordance with the ~~six~~contract ~~months~~terms. ~~ended~~Contract ~~June~~termination ~~30,~~charges ~~2021~~are recognized in revenue when collectability is probable and ~~for~~are reflected in monitoring and related revenue in the ~~year~~condensed ~~ended~~consolidated ~~December~~statements ~~31,~~of ~~2020~~operations. ~~were~~Amounts ascollected ~~follows:~~from customers for sales and other taxes are reported net of the related amounts remitted.

Balance, December 31, 2019	$	72,904
Changes in fair value of derivative		165,491
Balance, December 31, 2020	$	238,395
Change in fair value of derivative		(5,497	)
Balance, June 30, 2021	$	232,898

- 11 -

Table of Contents

~~Derivative~~GULF ~~Financial~~WEST ~~Instruments~~SECURITY NETWORK, INC.

~~The~~NOTES ~~Company~~TO ~~evaluates~~CONDENSED ~~its~~CONSOLIDATED ~~financial~~FINANCIAL ~~instruments~~STATEMENTS to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based financial instruments, the Company uses the Black-Scholes-Merton pricing model to value the derivative instruments. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.(UNAUDITED)

~~The~~As ~~Company estimates the fair value~~ of ~~these~~September ~~instruments~~30, ~~using~~2021 ~~the~~and ~~Black-Scholes~~December ~~option~~31, ~~pricing~~2020 ~~model~~ and for the ~~intrinsic~~nine ~~value~~months ifended ~~the~~September ~~convertible~~30, ~~notes~~2021 ~~are~~and ~~due on demand.~~2020

~~The~~Barter Company determined that certain convertible debt instruments outstanding as of the date of these unaudited condensed consolidated financial statements include an exercise price “reset” adjustment that qualifies as derivative financial instruments under the provisions of ASC 815-40, Derivatives and Hedging - Contracts in an Entity’s Own Stock (“ASC 815-40”). Certain of the convertible notes payable have a variable exercise price, thus are convertible into an indeterminate number of shares for which we cannot determine if we have sufficient authorized shares to settle the transaction with. Accordingly, the embedded conversion option is a derivative liability and is marked to market through earnings at the end of each reporting period. Any change in fair value during the period is recorded in earnings as “Income (loss) from discontinued operations.” Please refer to Note 3 below.Transactions

~~Going~~The ~~Concern~~Company conducts certain barter sales through trade organizations for which it is a member, as are some of its customers. The barter transactions are generally related to the Company providing its security services, and the value of these services is recorded at fair value which is the contracted for value of the services with the customer, which is the more readily available measure as to its valuation.

~~The~~Fair ~~Company’s~~Value condensed consolidated financial statements are prepared using accounting principles generally accepted in the United States (“U.S. GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has limited commercial experience and had a net loss from continuing operations of $210,526 for the six months ended June 30, 2021, and an accumulated deficit of $3,284,889, and a working capital deficit of $2,992,427 at June 30, 2021. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs and to allow it to continue as a going concern. The accompanying condensed consolidated financial statements for the six months ended June 30, 2021, have been prepared assuming the Company will continue as a going concern. The Company’s cash resources will likely be insufficient to meet its anticipated needs during the next twelve months. The Company will require additional financing to fund its future planned operations, including research and development and commercialization of its products.Measurements

~~F-10~~Disclosures ~~Table~~about fair value of ~~Contents~~financial instruments require disclosure of the fair value information, whether or not recognized in its balance sheet, where it is practicable to estimate that value.

~~GULF~~In ~~WEST~~accordance ~~SECURITY~~with ~~NETWORK~~ASC Topic 820, ~~INC.~~“Fair ~~NOTES~~Value TOMeasurements ~~CONDENSED~~and ~~CONSOLIDATED~~Disclosures,” ~~FINANCIAL~~the ~~STATEMENTS~~Company ~~(UNAUDITED)As~~measures ofcertain ~~June~~financial ~~30,~~instruments ~~2021~~at ~~and~~fair ~~December~~value 31on a recurring basis. ASC Topic 820 defines fair value, ~~2020~~established ~~and~~a framework for ~~the~~measuring ~~six~~fair ~~months~~value ~~ended~~in ~~June~~accordance ~~30,~~with ~~2021~~accounting principles generally accepted in the United States, and ~~2020~~expands disclosures about fair value measurements.

~~The~~Fair ~~ability~~value ofis ~~the~~defined ~~Company to continue~~ as ~~a going concern is dependent on~~ the ~~Company~~price ~~obtaining~~that ~~adequate~~would ~~capital~~be received to ~~fund~~sell ~~its~~an ~~operating~~asset ~~losses~~or ~~until~~paid itto ~~establishes~~transfer a ~~revenue~~liability ~~stream~~in ~~and~~an ~~becomes~~orderly ~~profitable.~~transaction ~~Management’s~~between ~~plans~~market toparticipants ~~continue~~at asthe ameasurement ~~going~~date. ~~concern~~ASC ~~include~~Topic ~~raising~~820 ~~additional~~established ~~capital~~a ~~through~~three-tier ~~sales~~fair ofvalue ~~equity securities and borrowing. However~~hierarchy, ~~management~~which ~~cannot~~prioritizes ~~provide any assurances that~~ the ~~Company~~inputs ~~will~~used ~~be successful~~ in ~~accomplishing~~measuring ~~any~~fair ~~of its plans~~value. IfThe ~~the~~hierarchy ~~Company~~gives ~~is not able to obtain~~ the ~~necessary~~highest ~~additional~~priority ~~financing on a timely basis, the Company will be forced~~ to ~~delay~~unadjusted orquoted ~~scale~~prices ~~down~~in ~~some~~active ormarkets ~~all~~for ofidentical ~~its~~assets ~~development activities~~ or ~~perhaps~~liabilities ~~even~~(Level ~~cease~~1 ~~the~~measurements) ~~operation of its business. The ability of the Company to continue as a going concern is dependent upon its ability to successfully secure other sources of financing~~ and ~~attain profitable operations. There is substantial doubt about~~ the ~~ability~~lowest ofpriority ~~the Company~~ to ~~continue~~unobservable asinputs a(Level ~~going~~3 ~~concern within one year after the date that the unaudited condensed consolidated financial statements are issued~~measurements). ~~The~~These ~~accompanying~~tiers ~~unaudited condensed consolidated financial statements do not~~ include ~~any adjustments that might be necessary if the Company is unable to continue as a going concern.~~:

~~Recent~~· ~~Accounting~~Level ~~Pronouncements~~1, defined as observable inputs such as quoted prices for identical instruments in active markets; · Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and · Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statements.

	Fair Value Measurement
	Carrying Value		Level 1		Level 2		Level 3
As of September 30, 2021
Derivative liabilities, debt and equity instruments	$	269,993		-		-	$	269,993
As of December 31, 2020
Derivative liabilities, debt and equity instruments	$	238,395		-		-	$	238,395

~~NOTE~~Financial assets are considered Level 3: ~~ACQUIRED~~when ~~ASSETS~~their ~~AND~~fair ~~ASSUMED~~values ~~LIABILITIES~~are OFdetermined ~~DISCONTINUED~~using ~~OPERATIONS~~pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable.

~~Assets~~- ~~Acquired~~12 ~~and~~- ~~Liabilities~~Table ~~Assumed~~of ~~through Reverse Merger~~Contents

~~Pursuant~~GULF toWEST ~~the~~SECURITY ~~terms of the Merger Agreement dated August 9~~NETWORK, ~~2018, and in exchange for all one hundred (100) issued and outstanding shares of LJR Security Services, Inc~~INC., LJR stockholders received one thousand (1,000) shares of series D senior convertible preferred stock, par value $.001 per share (the “Series D Preferred Stock”) of the Company, convertible into fifty million two hundred thirty-three thousand five hundred forty-one (50,239,541) shares of common stock of the Company. In addition, the LJR shareholder received one (1) share of series C super-voting preferred stock of the Company which granted the holder 50.1% of the votes of the Company at all times.

~~F-11~~NOTES ~~Table~~TO ofCONDENSED ~~Contents~~CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

~~GULF WEST SECURITY NETWORK, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)~~As of ~~June~~September 30, 2021 and December 31, 2020 and for the ~~six~~nine months ended ~~June~~September 30, 2021 and 2020

AsChanges ain ~~result~~Level of3 ~~the~~assets ~~Reverse~~measured ~~Merger,~~at ~~the~~fair ~~Company~~value ~~has~~for ~~acquired~~ the ~~following~~nine ~~assets~~months ~~and~~ended ~~liabilities~~September ~~which~~30, ~~were~~2021 ~~recorded~~and atfor ~~fair~~the ~~value.~~year ~~The~~ended ~~fair~~December ~~values~~31, of2020 ~~assets~~were ~~acquired and liabilities assumed are~~ as follows:

	August 9,2018			December 31, 2020			June 30, 2021
Balance, December 31, 2019	$	72,904
Security deposit	$	4,871		$	-		$	-
Changes in fair value of derivative		165,491
Goodwill		612,771			-			-
Balance, December 31, 2020	$	238,395
Accrued expenses		(125,647	)		-			-
Change in fair value of derivative		31,598
Accrued interest		(49,261	)		(33,221	)		(38,873	)
Balance, September 30, 2021	$	269,993
Notes payable		(117,500	)		-			-
Convertible notes		(138,500	)		(138,500	)		(138,500	)
Derivative liability		(172,532	)		(238,395	)		(232,898	)
Liabilities of discontinued operations		-			(71,574	)		(71,574	)
Total identified net assets (liabilities)	$	14,202		$	(481,690	)	$	(481,845	)

AsDerivative aFinancial result of the Reverse Merger, we acquired $603,440 liabilities of the former operations of NuLife Sciences, Inc., which have been discontinued. As of June 30, 2021, these liabilities amounted to $481,845. We are evaluating the means to relieve the Company of these liabilities. The assets and liabilities described below have been classified as discontinued operations in the condensed consolidated financial statements.Instruments

~~Goodwill~~The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based financial instruments, the Company uses the Black-Scholes-Merton pricing model to value the derivative instruments. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.

The Company ~~acquired~~estimates ~~goodwill through~~ the ~~Reverse~~fair ~~Merger~~value ~~described~~of ~~above.~~these ~~The~~instruments ~~carrying~~using ~~value~~the ofBlack-Scholes ~~$612,771~~option ~~was~~pricing ~~impaired~~model and ~~written~~the ~~down~~intrinsic tovalue $0if asthe ofconvertible ~~December~~notes ~~31,~~are ~~2018~~due on demand.

~~Notes~~The ~~Payable~~Company determined that certain convertible debt instruments outstanding as of the date of these unaudited condensed consolidated financial statements include an exercise price “reset” adjustment that qualifies as derivative financial instruments under the provisions of ASC 815-40, Derivatives and Hedging - Contracts in an Entity’s Own Stock (“ASC 815-40”). Certain of the convertible notes payable have a variable exercise price, thus are convertible into an indeterminate number of shares for which we cannot determine if we have sufficient authorized shares to settle the transaction with. Accordingly, the embedded conversion option is a derivative liability and is marked to market through earnings at the end of each reporting period. Any change in fair value during the period is recorded in earnings as “Income (loss) from discontinued operations.” Please refer to Note 3 below.

AsGoing ~~a result of the Reverse Merger the Company assumed notes payable with total outstanding principal of $117,500 and accrued interest of $36,304, detailed as follows:~~Concern

·The ~~Demand~~Company’s ~~note~~condensed ~~payable~~consolidated ~~with~~financial ~~outstanding~~statements ~~principal~~are ofprepared ~~$25,000,~~using ~~and~~accounting ~~accrued~~principles ~~interest~~generally ofaccepted ~~$17,400~~in the United States (“U.S. ~~The~~GAAP”) ~~note~~applicable ~~matured~~to ona ~~September~~going 30concern, ~~2015~~which contemplates the realization of assets and ~~carries~~liquidation anof ~~interest~~liabilities ~~rate~~in the normal course of ~~12%~~business. ~~This~~The ~~note~~Company ishas inlimited ~~default.~~commercial ·experience ~~Demand~~and ~~notes~~had ~~payable~~a tonet ~~East~~loss ~~West~~from ~~Secured~~continuing ~~Developments~~operations of $295,324 ~~LLC~~for the nine months ended September 30, ~~with~~2021, aand ~~combined~~an ~~outstanding~~accumulated ~~principal~~deficit of $743,~~500~~406,782, and ~~accrued~~a ~~interest~~working capital deficit of $183,~~061.~~044,320 ~~These~~at ~~notes~~September ~~matured~~30, on2021. ~~October~~The ~~31,~~Company ~~2016~~has ~~and~~not ~~carry~~yet established an ~~interest~~ongoing ~~rate~~source of ~~12%.~~revenue ~~These~~sufficient ~~notes~~to ~~are~~cover inits ~~default~~operating costs and to allow it to continue as a going concern. ·The ~~Term~~accompanying ~~note~~condensed ~~payable~~consolidated ~~with~~financial ~~outstanding~~statements ~~principal~~for ofthe ~~$18~~nine months ended September 30,~~000~~ 2021, ~~and~~have ~~accrued~~been ~~interest~~prepared ofassuming ~~$843~~the Company will continue as a going concern. The ~~note~~Company’s ~~matured~~cash onresources ~~July~~will ~~31,~~likely ~~2019~~be ~~and~~insufficient ~~carries~~to anmeet ~~interest~~its atanticipated needs during the ~~rate~~next oftwelve 3%months. ~~This~~The ~~note~~Company iswill inrequire ~~default~~additional financing to fund its future planned operations, including research and development and commercialization of its products.

In- ~~2020,~~13 ~~the~~- ~~Company~~Table ~~settled the notes payable~~ of $99,500 and accrued interest of $60,493 for $92,500 and 200,000 shares of preferred stock valued at $200,000, which not yet issued and presented as stock payable in consolidated balance sheet as of June 30, 2021 and December 31, 2020.Contents

~~F-12~~GULF ~~Table~~WEST ofSECURITY ~~Contents~~NETWORK, INC.

~~GULF WEST SECURITY NETWORK, INC.~~ NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)~~As of June 30, 2021 and December 31, 2020 and for the six months ended June 30, 2021 and 2020~~

~~Convertible~~As ~~Notes~~of September 30, 2021 and December 31, 2020 and for the nine months ended September 30, 2021 and 2020

AsThe ability of the Company to continue as a ~~result~~going concern is dependent on the Company obtaining adequate capital to fund its operating losses until it establishes a revenue stream and becomes profitable. Management’s plans to continue as a going concern include raising additional capital through sales of equity securities and borrowing. However, management cannot provide any assurances that the ~~Reverse~~Company ~~Merger~~will be successful in accomplishing any of its plans. If the Company ~~assumed~~is ~~convertible~~not ~~notes~~able ~~with~~to ~~total~~obtain ~~outstanding~~the ~~principal~~necessary ofadditional ~~$138~~financing on a timely basis,~~500~~ the Company will be forced to delay or scale down some or all of its development activities or perhaps even cease the operation of its business. The ability of the Company to continue as a going concern is dependent upon its ability to successfully secure other sources of financing and ~~accrued~~attain ~~interest~~profitable operations. There is substantial doubt about the ability of ~~$11,078,~~the ~~detailed~~Company to continue as ~~follows:~~a going concern within one year after the date that the unaudited condensed consolidated financial statements are issued. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

	June 30, 2021
(A) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.11 per share and was due December 2019 (in default)	$	5,000
(B) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.11 per share (in default)		50,000
(C) Convertible note payable, annual interest rate of 5%, convertible into common stock at a variable rate per share and was due September 2018 (in default)		63,500
(D) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.30 per share and is due October 13, 2020		20,000
Total convertible debt	$	138,500

Recent Accounting Pronouncements

A.Recent ~~Originally~~accounting pronouncements issued inby ~~2017~~the FASB, ~~outstanding~~including ~~principal~~its Emerging Issues Task Force, the American Institute of $5Certified Public Accountants,~~000,~~ and ~~accrued~~the ~~interest~~Securities ofand ~~$715~~Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statements.

B.NOTE ~~Hayden~~3: ~~note~~ACQUIRED ~~was~~ASSETS ~~issued~~AND onASSUMED ~~August~~LIABILITIES ~~23,~~OF ~~2017,~~DISCONTINUED ~~outstanding principal of $50,000, and accrued interest of $4,538.~~OPERATIONS

C.Assets ~~Current~~Acquired ~~holder acquired the note in May 2018. Current outstanding principal of $63,500,~~ and ~~accrued~~Liabilities ~~interest~~Assumed ofthrough ~~$4,295.~~Reverse Merger

D.Pursuant ~~Escala~~to ~~note~~the ~~was~~terms ~~issued~~of ~~October~~the 13Merger Agreement dated August 9, ~~2017~~2018, and in exchange for all one hundred (100) issued and outstanding ~~principal~~shares of ~~$20~~LJR Security Services,~~000~~ Inc., ~~and~~the ~~accrued~~LJR ~~interest~~Stockholder received one thousand (1,000) shares of series D senior convertible preferred stock, par value $1.001 per share (the “Series D Preferred Stock”) of the Company,~~530~~ convertible into fifty million two hundred thirty-three thousand five hundred forty-one (50,239,541) shares of common stock of the Company. In addition, the LJR Stockholder received one (1) share of series C super-voting preferred stock of the Company which granted the holder 50.1% of the votes of the Company at all times.

As- of14 ~~June~~- ~~30,~~Table ~~2021 and December 31, 2020, convertible notes had total outstanding principal~~ of ~~$138,500 and $138,500 and accrued interest of $38,873 and $33,221, all respectively. These liabilities have been incorporated into liabilities from discontinued operations.~~Contents

~~Derivative~~GULF ~~Liability~~WEST SECURITY NETWORK, INC.

AsNOTES ofTO ~~June~~CONDENSED ~~30,~~CONSOLIDATED ~~2021~~FINANCIAL ~~and~~STATEMENTS December 31, 2020, the derivative liabilities were valued at $232,898 and $238,395, respectively, related to convertible notes [A to D above]. This derivative liability has been incorporated into liabilities from discontinued operations.(UNAUDITED)

~~The~~As ~~fair~~of ~~value~~September of30, ~~the~~2021 ~~embedded~~and ~~derivative~~December ~~was~~31, ~~determined~~2020 ~~using~~and for the ~~Black-Scholes~~nine ~~Model~~months ~~with~~ended ~~the~~September ~~following~~30, ~~assumptions:~~2021 and 2020

	June 30,2021	December 31,2020
(1) dividend yield of	0%;	0%;
(2) expected volatility of	292%;	315%;
(3) risk-free interest rate of	0.05%;	0.09%;
(4) expected life of	0.33 year;	0.33 year;
(5) fair value of the Company’s common stock of	$0.10 per share.	$0.06 per share.

As a result of the Reverse Merger, the Company has acquired the following assets and liabilities which were recorded at fair value. The fair values of assets acquired and liabilities assumed are as follows:

F-13 Table of Contents

	August 9, 2018			December 31, 2020			September 30, 2021
Security deposit	$	4,871		$	-		$	-
Goodwill		612,771			-			-
Accrued expenses		(125,647	)		-			-
Accrued interest		(49,261	)		(33,221	)		(41,784	)
Notes payable		(117,500	)		-			-
Convertible notes		(138,500	)		(138,500	)		(138,500	)
Derivative liability		(172,532	)		(238,395	)		(269,993	)
Liabilities of discontinued operations		-			(71,574	)		(71,573	)
Total identified net assets (liabilities)	$	14,202		$	(481,690	)	$	(521,850	)

~~GULF~~As ~~WEST~~a ~~SECURITY~~result ~~NETWORK~~of the Reverse Merger, ~~INC.~~we ~~NOTES~~acquired TO$603,440 ~~CONDENSED~~liabilities ~~CONSOLIDATED~~of ~~FINANCIAL~~the ~~STATEMENTS~~former ~~(UNAUDITED)~~operations of NuLife Sciences, Inc., which have been discontinued. As of ~~June~~September 30, 2021, ~~and~~these ~~December~~liabilities 31amounted to $521,850. ~~2020~~We ~~and~~are ~~for~~evaluating the ~~six~~means ~~months~~to ~~ended~~relieve ~~June~~the ~~30,~~Company ~~2021~~of these liabilities. The assets and ~~2020~~liabilities described below have been classified as discontinued operations in the condensed consolidated financial statements.

~~NOTE 4: PREPAID EXPENSES~~Goodwill

The Company ~~has~~acquired ~~available~~goodwill ~~to its credit~~ through ~~certain~~the ~~trade~~Reverse ~~organizations~~Merger asdescribed ~~a result of barter transactions for services~~above. ~~These~~The ~~amounts~~carrying ~~are~~value ~~available~~of ~~for~~$612,771 ~~use~~was ~~with~~impaired ~~certain vendors~~ and ~~establishments~~written ~~who~~down ~~are part of the same trade organization. These balances do not represent cash available~~ to ~~the~~$0 ~~Company, and~~ as ~~such~~of ~~are~~December ~~recorded~~31, ~~as the prepaid expenses account as incurred~~2018.

AsNotes ~~of June 30, 2021 and December 31, 2020, the available barter credit balances were $22,252 and $22,396, respectively.~~Payable

As ofa ~~both~~result ~~June~~of ~~30,~~the ~~2021~~Reverse ~~and~~Merger ~~December~~the ~~31,~~Company ~~2020,~~assumed ~~this~~notes ~~account~~payable ~~also~~with ~~includes~~total ~~prepaid~~outstanding ~~expense~~principal ~~for~~of ~~legal~~$117,500 ~~expenses~~and ~~amounting~~accrued tointerest of $536,~~000.~~304, detailed as follows:

~~NOTE~~· 5:Demand ~~RELATED~~note ~~PARTY~~payable ~~TRANSACTIONS~~with ~~AND~~outstanding ~~BALANCES~~principal of $25,000, and accrued interest of $17,400. The note matured on September 30, 2015 and carries an interest rate of 12%. This note is in default. · Demand notes payable to East West Secured Developments, LLC, with a combined outstanding principal of $74,500, and accrued interest of $18,061. These notes matured on October 31, 2016 and carry an interest rate of 12%. These notes are in default. · Term note payable with outstanding principal of $18,000, and accrued interest of $843. The note matured on July 31, 2019 and carries an interest at the rate of 3%. This note is in default.

AnIn ~~officer~~2020, of the Company ~~agreed~~settled tothe ~~defer~~notes ~~portions~~payable of ~~his~~$99,500 ~~salaries~~and ~~annually~~accrued ~~since~~interest ~~inception.~~of ~~The~~$60,493 ~~balances~~for ~~due under this arrangement were~~ $~~536~~92,~~294~~500 and ~~$420~~200,~~702~~000 asshares of ~~June~~preferred 30stock valued at $200,000, ~~2021~~which not yet issued and ~~December~~presented ~~31,~~as ~~2020,~~stock ~~respectively.~~payable ~~This~~in consolidated balance ~~has~~sheet noas ~~formal~~of ~~repayment~~September ~~terms~~30, or2021 ~~interest.~~and December 31, 2020.

~~The~~- ~~same~~15 ~~officer~~- ofTable ~~the Company advances funds to the Company and receives repayments on such advances throughout the year in the form~~ of ~~allowing Company use of personal credit cards. The balances due under this arrangement as of June 30, 2021 and December 31, 2020 were $9,992 and $8,584, respectively.~~Contents

~~NOTE~~GULF 6:WEST ~~BRIDGE~~SECURITY ~~LOAN~~NETWORK, ~~FROM~~INC. ~~AFFILIATES~~

AsNOTES ofTO ~~June~~CONDENSED ~~30,~~CONSOLIDATED ~~2021~~FINANCIAL ~~and~~STATEMENTS December 31, 2020, the Company has received advances totaling $1,818,666 and $1,728,166, respectively, from its affiliates. The formal structure and payment terms of these advances have not yet been determined by the Company and the third parties. (UNAUDITED)

~~NOTE~~As 7:of ~~CAPITAL~~September ~~STOCK~~30, 2021 and December 31, 2020 and for the nine months ended September 30, 2021 and 2020

~~The~~Convertible ~~Company is authorized to issue 475,000,000 shares of $0.001 par value common stock and 25,000,000 shares of $0.001 par value preferred stock.~~Notes

OnAs ~~July~~a 2,result ~~2020,~~of the Reverse Merger the Company ~~redeemed~~assumed ~~its~~convertible ~~100,000~~notes ~~shares~~with oftotal ~~Series~~outstanding Aprincipal ~~Convertible~~of ~~Preferred~~$138,500 ~~Stock~~and ~~for~~accrued interest of $1811,~~010.~~078, detailed as follows:

On September 17, 2020, the Company redeemed its 7,500 shares of Series A Convertible Preferred Stock for $2,000 and issuance of 100,000 shares of Common Stock.

	September 30, 2021
(A) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.11 per share and was due December 2019 (in default)	$	5,000
(B) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.11 per share (in default)		50,000
(C) Convertible note payable, annual interest rate of 5%, convertible into common stock at a variable rate per share and was due September 2018 (in default)		63,500
(D) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.30 per share and was due October 13, 2020		20,000
Total convertible debt	$	138,500

~~F-14~~A. ~~Table~~Originally issued in 2017, outstanding principal of ~~Contents~~$5,000, and accrued interest of $715. B. Hayden note was issued on August 23, 2017, outstanding principal of $50,000, and accrued interest of $4,538. C. Current holder acquired the note in May 2018. Current outstanding principal of $63,500, and accrued interest of $4,295. D. Escala note was issued October 13, 2017, outstanding principal of $20,000, and accrued interest of $1,530.

~~GULF~~As ~~WEST~~of ~~SECURITY~~September ~~NETWORK~~30, ~~INC.~~2021 ~~NOTES~~and TODecember ~~CONDENSED~~31, ~~CONSOLIDATED~~2020, ~~FINANCIAL~~convertible ~~STATEMENTS~~notes ~~(UNAUDITED)As~~had oftotal ~~June~~outstanding 30principal of $138,500 ~~2021~~and $138,500 and ~~December~~accrued ~~31,~~interest ~~2020~~of $38,873 and ~~for~~$41,784, ~~the~~all ~~six~~respectively. ~~months~~These ~~ended~~liabilities ~~June~~have ~~30,~~been ~~2021~~incorporated ~~and~~into ~~2020~~liabilities from discontinued operations.

~~The~~Derivative ~~table below shows the redemption of Company’s Series A Convertible Preferred Stock for the year ended December 31, 2020:~~Liability

Closing Date	(a)Total number of shares (or units) purchased	(b)Average price paid per share (or unit)		(c)Total number of shares (or units) purchased as part of publicly announced plans or programs		(d)Maximum number (or approximate dollar value) of shares (or units) that may yet be purchased under the plans or programs
July 2, 2020	100,000 shares of Series A Convertible Preferred Stock	$	0.18		-		-
September 17, 2020	7,500 shares of Series A Convertible Preferred Stock	$	0.27		-		-
Total	107,500 shares of Series A Convertible Preferred Stock	$	0.19		-		-

As of September 30, 2021 and December 31, 2020, the derivative liabilities were valued at $269,899 and $238,395, respectively, related to convertible notes [A to D above]. This derivative liability has been incorporated into liabilities from discontinued operations.

AsThe offair ~~June~~value ~~30,~~of ~~2021 and December 31, 2020,~~ the ~~Company~~embedded ~~had~~derivative ~~4,618,250~~was ~~and~~determined ~~4,618,250~~using ~~shares~~the of its Common Stock issued and outstanding, 635,000 and 635,000 shares of its Series A Convertible Preferred Stock issued and outstanding, 0 and 0 shares of its Series B Convertible Preferred Stock issued and outstanding, 1 and 1 share of its Series C SuperBlack-~~Voting~~Scholes ~~Preferred~~Model ~~Stock~~with ~~issued~~the ~~and~~following ~~outstanding, and 1,000 and 1,000 shares of its Series D Senior Convertible Preferred Stock issued and outstanding, all respectively.~~ assumptions:

Description of Preferred Stock:

	September 30, 2021	December 31, 2020
(1) dividend yield of	0%;	0%;
(2) expected volatility of	472%;	315%;
(3) risk-free interest rate of	0.04%;	0.09%;
(4) expected life of	0.33 year;	0.33 year;
(5) fair value of the Company’s common stock of	$0.10 per share.	$0.06 per share.

~~Series~~- A16 ~~Preferred~~- ~~Stock~~Table of Contents

AsGULF ofWEST ~~June~~SECURITY 30NETWORK, ~~2021~~INC. ~~and December 31, 2020, the Company has 635,000 and 635,000, respectively, shares of Preferred Stock designated as Series A Preferred Stock with the following characteristics:~~

	·	Holders of the Series A Stock are entitled to receive dividends or other distributions with the holders of the common stock on an “as converted” basis when, as, and if declared by the Board of Directors of the Company.
	·	Holders of shares of Series A Stock, upon Board of Directors approval, may convert at any time following the issuance upon sixty-one (61) day written notice to the Company. Each share of Series A Stock shall be convertible into such number of fully paid and non-assessable shares of common stock as is determined by multiplying the number of issued and outstanding shares of the Company’s common stock together with all other derivative securities, including securities convertible into or exchangeable for common stock, whether or not then convertible or exchangeable (b) subscriptions, rights, options and warrants to purchase shares of common stock, whether or not then exercisable, but entitled to vote on matters submitted to the shareholders, issued by the Company and outstanding as of the date of conversion, by .000001, then multiplying that number of shares of Series A Stock to be converted.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

~~F-15~~As ~~Table~~ of ~~Contents~~September 30, 2021 and December 31, 2020 and for the nine months ended September 30, 2021 and 2020

~~GULF~~NOTE ~~WEST~~4: ~~SECURITY~~PREPAID ~~NETWORK, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)As of June 30, 2021 and December 31, 2020 and for the six months ended June 30, 2021 and 2020~~EXPENSES

·The ~~In case of any consolidation, merger of the~~ Company, orhas aavailable ~~change of control of the Company’s Board, the holders are entitled, without any further action required or permission by the Board,~~ to ~~exercise~~its ~~their~~credit ~~conversions~~through ~~rights.~~certain Intrade ~~the~~organizations case of any consolidation, merger of the Company, the Board shall mail to each holder of Series A Stock at least thirty (30) days prior to the consummation of such event, a notice thereof and each such holder shall have the option to either (i) convert such holder’s shares of Series A Stock into shares of common stock pursuant to this paragraph and thereafter receive the number of shares of common stock or other securities or property, or cash, as ~~the case may be, to which~~ a holder of the number of shares of common stock of the Company deliverable upon conversion of such Series A Stock would have been entitled upon conversion immediately preceding such consolidation, merger or conveyance, or (ii) exercise such holder’s rights pursuant to Section 8.1(a) hereof; provided however that the Series A Stock shall not be subject to or affected as to the number of conversion shares or the redemption or liquidation price by reason of any reverse stock split affected prior or as a result of ~~any~~barter ~~reorganization.~~transactions ·for In the event of a liquidation, the holders of shares of the Series A Stock shall be entitled to receive, prior to the holders of the other series of preferred stock and prior and in preference to any distribution of the assets or surplus funds of the Company to the holders of any other shares of stock of the Company by reason of their ownership of such stock, an amount equal to five dollars ($5services.~~00)~~ ~~per~~These ~~share~~amounts ~~with~~are ~~respect~~available tofor ~~each~~use ~~share of Series B Stock owned as of the date of Liquidation, plus all declared but unpaid dividends~~ with ~~respect~~certain tovendors ~~such shares,~~ and ~~thereafter~~establishments ~~they~~who ~~shall~~are ~~share~~part inof the ~~net Liquidation proceeds on an “as converted basis” on the~~ same ~~basis~~trade ~~as the holders of the common stock~~organization. ·These ~~The~~balances ~~holders~~do of each share of Series A Stock shall have that number of votes as determined by multiplying the number of issued and outstanding shares of the Company’s common Stock together with all other derivative securities issued by the Company and outstanding as of the date of conversion, whether or not ~~then~~represent ~~convertible~~cash oravailable ~~exchangeable, entitled~~ to ~~vote on matters submitted to~~ the ~~shareholders~~Company, by .000001, then multiplying that number of shares of Series A Stock to be converted. · The Corporation shall have the option to redeem all of the outstanding shares of Series A Stock at any time on an “all or nothing” basis, unless otherwise mutually agreed in writing between the Corporation and ~~the~~as ~~holders of shares of Series A Stock holding at least 51% of~~ such ~~Series~~are Arecorded Stock, beginning ten (10) business days following notice by the Company, at a redemption price the higher of (a) five dollars ($5.00) per share, or (b) fifty percent (50%) of the trailing average highest closing bid price of the Company’s common stock as ~~quoted on www.OTCMarkets.com or~~ the ~~Company’s~~prepaid ~~primary~~expenses ~~listing~~account exchange on the date of notice of redemption, unless otherwise modified by mutual written consent between the Company and the holders of the Series A Stock (the "Conversion Price"). Redemption payments shall only be made in cash within ninety (90) days of notice by the Company to redeem. · The shares of Series A Stock acquired by the Company by reason of conversion or otherwise can be reissued, but only as ~~an amended class, not as shares of Series A Stock~~incurred.

~~Series~~As Cof ~~Preferred~~September ~~Stock~~30, 2021 and December 31, 2020, the available barter credit balances were $23,400 and $22,396, respectively.

·As ~~The Company has 1 share~~ of ~~Preferred~~both ~~Stock~~September ~~designated as Series C Preferred Stock. Although the Series C Preferred Stock carries no dividend~~30, ~~distribution,~~2021 ~~liquidation~~and orDecember ~~conversion rights~~31, each share of Series C Preferred Stock grants the holder 50.1% of the total votes of all classes of capital stock of the Company and are able to vote together with the common stockholders on all matters. Consequently2020, ~~the~~this ~~holder~~account ofalso ~~the~~includes ~~Company’s~~prepaid ~~Series~~expense Cfor ~~Preferred~~legal ~~Stock~~expenses isamounting ~~able~~ to ~~unilaterally control the election of its board of directors and~~$5, ~~ultimately, the direction of the Company~~000.

~~F-16~~NOTE ~~Table~~5: ofRELATED ~~Contents~~PARTY TRANSACTIONS AND BALANCES

~~GULF~~An ~~WEST~~officer ~~SECURITY~~of ~~NETWORK,~~the ~~INC~~Company agreed to defer portions of his salaries annually since inception. ~~NOTES~~The TObalances ~~CONDENSED~~due ~~CONSOLIDATED~~under ~~FINANCIAL~~this ~~STATEMENTS~~arrangement ~~(UNAUDITED)As~~were $602,294 and $420,702 as of ~~June~~September 30, 2021 and December 31, 2020, ~~and~~respectively. ~~for~~This ~~the~~balance ~~six~~has ~~months~~no ~~ended~~formal ~~June~~repayment ~~30,~~terms ~~2021~~or ~~and~~interest. ~~2020~~

~~Series~~The Dsame ~~Preferred~~officer ~~Stock~~of the Company advances funds to the Company and receives repayments on such advances throughout the year in the form of allowing Company use of personal credit cards. The balances due under this arrangement as of September 30, 2021 and December 31, 2020 were $6,264 and $8,584, respectively.

·NOTE ~~The~~6: ~~Company~~BRIDGE ~~has~~LOAN ~~1,000~~FROM shares of Preferred Stock designated as Series D Preferred Stock. Although the Series D Preferred Stock have no voting rights, shares of Series D Preferred Stock in the aggregate are convertible into fifty million two hundred thirty-three thousand five hundred forty-one (50,239,541) shares of common stock of the Company. Additionally, the Series D Preferred Stock has pari passu dividend, distribution and liquidation rights with the common stock.AFFILIATES

~~Stock~~As ~~Options~~of September 30, 2021 and December 31, 2020, the Company has received advances totaling $1,839,666 and $1,728,166, respectively, from its affiliates. The formal structure and payment terms of these advances have not yet been determined by the Company and the third parties.

AsNOTE a7: ~~result~~CAPITAL ~~of the Reverse Merger the Company has outstanding the following stock options as of June 30, 2021 and December 31, 2020:~~STOCK

	June 30, 2021				December 31, 2020
	Stock Options		Weighted Average Exercise Price		Stock Options			Weighted Average Exercise Price
Outstanding - beginning of year		-		-		620,000		$	0.23
Granted		-		-		-			-
Exercised		-		-		-			-
Forfeited		-		-		(620,000	)	$	0.23
Outstanding - end of year		-				-
Exercisable and vested - end of year		-				-
Weighted average remaining term		-				-
Average intrinsic value	$	-			$	-

The Company is authorized to issue 475,000,000 shares of $0.001 par value common stock and 25,000,000 shares of $0.001 par value preferred stock.

~~NOTE~~On 8:July ~~COMMITMENT~~2, ~~AND~~2020, ~~CONTINGENCIES~~the Company redeemed its 100,000 shares of Series A Convertible Preferred Stock for $18,010.

~~Litigation~~On September 17, 2020, the Company redeemed its 7,500 shares of Series A Convertible Preferred Stock for $2,000 and issuance of 100,000 shares of Common Stock.

~~From~~- ~~time~~17 to- ~~time~~Table ~~the Company may become a party to litigation in the normal course~~ of ~~business. Management believes that there are no current legal matters that would have a material effect on the Company’s financial position or results of operations.~~Contents

~~NOTE~~GULF 9:WEST ~~SUBSEQUENT~~SECURITY ~~EVENTS~~NETWORK, INC.

InNOTES ~~accordance~~TO ~~with~~CONDENSED ~~ASC~~CONSOLIDATED ~~Topic~~FINANCIAL ~~855,~~STATEMENTS “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after June 30, 2021 up through the date of the these condensed consolidated financial statements.(UNAUDITED)

~~F-17~~As ~~Table~~ of ~~Contents~~September 30, 2021 and December 31, 2020 and for the nine months ended September 30, 2021 and 2020

~~GULF~~The ~~WEST~~table ~~SECURITY~~below ~~NETWORK,~~shows ~~INC.~~the ~~NOTES~~redemption ~~TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)As~~ of ~~June~~Company’s ~~30,~~Series ~~2021~~A ~~and~~Convertible ~~December~~Preferred ~~31,~~Stock ~~2020 and~~ for the ~~six~~year ~~months~~ ended ~~June~~December 3031, ~~2021 and~~ 2020:

On December 21, 2020, the Company entered into a share purchase agreement with the sole shareholder and owner of Westech Security and Investigations, Inc. (“Westech”). Pursuant to the terms of the share purchase agreement, the sole shareholder of Westech will sell all her shares to the Company in exchange for approximately 66% of the Company’s issued and outstanding shares of common stock (the “Sale”), to become effective at such time as the articles of merger have been filed. The remaining 34% of the Company’s issued and outstanding shares of common Stock shall consist of presently issued and outstanding shares of common Stock of the Company and the following to be issued in the form of Company’s Series E Preferred Stock, convertible into one share of Company’s common Stock, and shall consist of: (i) an exchange of all outstanding preferred stock of the Company, (ii) an exchange of all outstanding loans to the Company which shall either be satisfied or shall convert to Series E Preferred Stock immediately following the closing of the sale so that there are no outstanding loans to the Company at closing of the sale, (iii) a bridge loan of $500,000 previously made to Westech, which shall convert to Series E Preferred Stock immediately following the closing of the sale and (iv) an investment of $750,000 into the Company at closing of the sale. In connection with the additional $1,250,000, the Company shall issue 1,250,000 shares of Series E Preferred Stock. Furthermore, subject to the approval of Company’s shareholder and subject to discretion of the Board of Directors of the Company, the Company will change its name to “Westech Security and Investigation, Inc”, increase the number of shares of authorized preferred stock so it has sufficient amount of preferred stock to undertake the transactions contemplated by the sale; and undertake a 1-for-187 reverse stock split of its shares of common stock. Subsequent to the period ended June 30, 2021, the Company is still in the process of completing this merger transaction.

Closing Date	(a) Total number of shares (or units) purchased	(b) Average price paid per share (or unit)		(c) Total number of shares (or units) purchased as part of publicly announced plans or programs		(d) Maximum number (or approximate dollar value) of shares (or units) that may yet be purchased under the plans or programs
July 2, 2020	100,000 shares of Series A Convertible Preferred Stock	$	0.18		-		-
September 17, 2020	7,500 shares of Series A Convertible Preferred Stock	$	0.27		-		-
Total	107,500 shares of Series A Convertible Preferred Stock	$	0.19		-		-

OnAs ~~April~~of 7September 30, 2021, ~~the~~and ~~Board~~December of31, ~~Directors~~2020, of the Company ~~approved~~had ~~the~~4,618,250 ~~amendment~~and of4,618,250 ~~articles~~shares of ~~incorporation~~its toCommon ~~change~~Stock ~~the~~issued ~~name to “Westech Security~~ and ~~Investigation~~outstanding, ~~Inc.~~635,000 ~~increase~~and ~~the~~635,000 ~~number~~shares of ~~authorized~~its ~~shares~~Series toA ~~500,000,000~~Convertible ~~shares~~Preferred ofStock ~~common~~issued ~~stock~~ and 50outstanding,~~000,000~~ ~~shares~~0 ofand ~~preferred~~0 ~~stock~~shares ~~and~~of ~~effect~~its aSeries ~~reverse~~B ~~stock~~Convertible ~~split~~Preferred ofStock ~~the~~ issued and outstanding, ~~common~~1 ~~stock~~and at1 ashare ~~range~~ of ~~1-for-200~~its toSeries 1C Super-~~for-250.~~Voting ~~The~~Preferred ~~amendment~~Stock ~~will~~issued beand ~~effective~~outstanding, ~~upon~~and ~~filing~~1,000 ofand ~~such~~1,000 ~~amendment~~shares toof ~~the~~its ~~articles~~Series ofD ~~incorporation~~Senior ~~with~~Convertible ~~the~~Preferred ~~Secretary~~Stock ofissued ~~State~~and ofoutstanding, ~~Nevada~~all respectively.

~~F-18~~Description ~~Table~~ of ~~Contents~~Preferred Stock:

~~Item~~Series 2.A ~~Management’s~~Preferred ~~Discussion and Analysis of Financial Condition and Results of Operations~~Stock

~~Forward-Looking~~As ~~Statements~~of September 30, 2021 and December 31, 2020, the Company has 635,000 and 635,000, respectively, shares of Preferred Stock designated as Series A Preferred Stock with the following characteristics:

This quarterly report contains forward-looking statements and information relating to us that are based on the beliefs of our management as well as assumptions made by, and information currently available to, our management. When used in this report, the words “believe,” “anticipate,” “expect,” “will,” “estimate,” “intend”, “plan” and similar expressions, as they relate to us or our management, are intended to identify forward-looking statements. Although we believe that the plans, objectives, expectations and prospects reflected in or suggested by our forward-looking statements are reasonable, those statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements, and we can give no assurance that our plans, objectives, expectations and prospects will be achieved. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from historical results or our predictions. The terms “GWSN,” “we,” “us,” “our,” and the “Company” refer to Gulf West Security Network, Inc., a Nevada corporation, except where the context requires otherwise. The following discussion should be in conjunction with out condensed and consolidated financial statements and related notes thereto included elsewhere in this report.

	·	Holders of the Series A Stock are entitled to receive dividends or other distributions with the holders of the common stock on an “as converted” basis when, as, and if declared by the Board of Directors of the Company.

	·	Holders of shares of Series A Stock, upon Board of Directors approval, may convert at any time following the issuance upon sixty-one (61) day written notice to the Company. Each share of Series A Stock shall be convertible into such number of fully paid and non-assessable shares of common stock as is determined by multiplying the number of issued and outstanding shares of the Company’s common stock together with all other derivative securities, including securities convertible into or exchangeable for common stock, whether or not then convertible or exchangeable (b) subscriptions, rights, options and warrants to purchase shares of common stock, whether or not then exercisable, but entitled to vote on matters submitted to the shareholders, issued by the Company and outstanding as of the date of conversion, by .000001, then multiplying that number of shares of Series A Stock to be converted.

~~Business~~- ~~Overview~~18 - Table of Contents

~~Gulf~~GULF ~~West~~WEST ~~Security~~SECURITY ~~Network~~NETWORK, ~~Inc~~INC., a Nevada corporation, and its wholly-owned subsidiaries (formerly known as NuLife Sciences, Inc.), are principally engaged in the sale, installation, servicing, and monitoring of electronic home and business security and automation systems in the United States.

~~The~~NOTES ~~Company’s~~TO ~~retail~~CONDENSED ~~division,~~CONSOLIDATED ~~which~~FINANCIAL ~~includes~~STATEMENTS ~~its wholly-owned subsidiary, LJR Security Services, Inc., a Louisiana corporation~~ (~~“LJR”~~UNAUDITED), is actively engaged in the engineering, design, installation, remote monitoring and after-market servicing of electronic intrusion alert and fire detection systems for homes and businesses (the “alarm industry”).

~~The~~As ~~Company’s wholesale division, which operates under the name Gulf West Security Network (or “Gulf West”), is further engaged in the development and expansion~~ of aSeptember ~~proprietary coalition (alliance or network) of independently-branded life safety and property protection providers~~30, ~~fire~~2021 ~~alert~~ and ~~suppression~~December ~~system installers~~31, ~~electronic~~2020 ~~remote monitoring~~ and ~~video~~for ~~surveillance~~the ~~specialists,~~nine ~~smart~~months ~~home~~ended ~~designers,~~September ~~commercial systems integrators~~30, ~~structured~~2021 ~~wiring professionals~~ and ~~electrical contractors.~~2020

~~Both~~· ~~Gulf~~In ~~West~~case ~~and~~of ~~LJR~~any ~~are~~consolidation, ~~based~~merger inof ~~Lafayette~~the Company, ~~Louisiana~~or ~~and~~a ~~were~~change ~~previously~~of ~~owned~~control of the Company’s Board, the holders are entitled, without any further action required or permission by ~~Louis~~the JBoard, to exercise their conversions rights. In the case of any consolidation, merger of the Company, the Board shall mail to each holder of Series A Stock at least thirty (~~“Lou”~~30) ~~Resweber~~days prior to the consummation of such event, a ~~long-time~~notice ~~veteran~~thereof and each such holder shall have the option to either (i) convert such holder’s shares of Series A Stock into shares of common stock pursuant to this paragraph and thereafter receive the ~~alarm~~number ~~industry,~~of ~~who~~shares ~~has~~of ~~also~~common ~~previously~~stock ~~served~~or other securities or property, or cash, as the case may be, to which a ~~corporate~~holder ~~officer~~of the number of shares of common stock of the Company deliverable upon conversion of such Series A Stock would have been entitled upon conversion immediately preceding such consolidation, ~~board~~merger ~~member~~or conveyance, or (ii) exercise such holder’s rights pursuant to the liquidation distribution provisions set forth in Section 8.1(a) of the Company’s Certificate of Designation of the Rights, Privileges, Preferences and ~~executive~~Restrictions ~~consultant~~of Series A Convertible Preferred Stock; provided however that the Series A Stock shall not be subject to or affected as to the number of conversion shares or the redemption or liquidation price by reason of any reverse stock split affected prior or as a result of any reorganization. · In the event of a liquidation, the holders of shares of the Series A Stock shall be entitled to receive, prior to the holders of the other series of preferred stock and prior and in preference to any distribution of the assets or surplus funds of the Company to the holders of any other shares of stock of the Company by reason of their ownership of such stock, an amount equal to five dollars ($5.00) per share with respect to each share of Series A Stock owned as of the date of Liquidation, plus all declared but unpaid dividends with respect to such shares, and thereafter they shall share in the net Liquidation proceeds on an “as converted basis” on the same basis as the holders of the common stock. · The holders of each share of Series A Stock shall have that number of ~~NYSE~~votes as determined by multiplying the number of issued and ~~NASDAQ-listed~~outstanding ~~public~~shares ~~companies~~of ~~over~~the Company’s common Stock together with all other derivative securities issued by the ~~past~~Company 35and ~~years~~outstanding as of the date of conversion, whether or not then convertible or exchangeable, entitled to vote on matters submitted to the shareholders, by .000001, then multiplying that number of shares of Series A Stock to be converted. · The Corporation shall have the option to redeem all of the outstanding shares of Series A Stock at any time on an “all or nothing” basis, unless otherwise mutually agreed in writing between the Corporation and the holders of shares of Series A Stock holding at least 51% of such Series A Stock, beginning ten (10) business days following notice by the Company, at a redemption price the higher of (a) five dollars ($5.00) per share, or (b) fifty percent (50%) of the trailing average highest closing bid price of the Company’s common stock as quoted on www.OTCMarkets.com or the Company’s primary listing exchange on the date of notice of redemption, unless otherwise modified by mutual written consent between the Company and the holders of the Series A Stock (the “Conversion Price”). Redemption payments shall only be made in cash within ninety (90) days of notice by the Company to redeem. · The shares of Series A Stock acquired by the Company by reason of conversion or otherwise can be reissued, but only as an amended class, not as shares of Series A Stock.

4Series ~~Table~~C ofPreferred ~~Contents~~Stock

~~Reverse~~· ~~Merger~~The Company has 1 share of Preferred Stock designated as Series C Preferred Stock. Although the Series C Preferred Stock carries no dividend, distribution, liquidation or conversion rights, each share of Series C Preferred Stock grants the holder 50.1% of the total votes of all classes of capital stock of the Company and are able to vote together with the common stockholders on all matters. Consequently, the holder of the Company’s Series C Preferred Stock is able to unilaterally control the election of its board of directors and, ultimately, the direction of the Company.

~~On August 9, 2018, the Board of Directors of the Company through its wholly~~-~~owned~~ ~~subsidiary~~19 NuLife Acquisition Corp., a Louisiana corporation (“NuLife Sub”), approved and executed an agreement of merger and plan of reorganization (the “Merger Agreement”), to become effective at such time as the articles of merger had been filed with the Secretary of State of Louisiana (the “Effective Time”), and after the satisfaction or waiver by the parties thereto of the conditions set forth in the Merger Agreement. Pursuant to the terms of the Merger Agreement, NuLife Sub merged with and into LJR, with LJR being the surviving entity and becoming a wholly-~~owned~~ ~~subsidiary~~Table of the Company, all one hundred (100) issued and outstanding shares of common stock of LJR held by the sole stockholder of LJR (“LJR Stockholder”) were exchanged into one thousand (1,000) shares of series D senior convertible preferred stock, par value $0.001 per share (the “Series D Preferred Stock”), of the Company, convertible into fifty million two hundred thirty-nine thousand five hundred forty-one (50,239,541) shares of common stock of the Company (the “Merger”). In addition, the LJR Stockholder received one share of series C super-voting preferred stock of the Company which granted the holder 50.1% of the votes of the Company at all times.Contents

~~The~~GULF ~~Merger~~WEST ~~was~~SECURITY ~~intended to constitute a tax-free reorganization within the meaning of Section 368 of the United States Internal Revenue Code of 1986~~NETWORK, ~~as amended~~INC. In accordance with the accounting treatment for a “reverse merger”, the Company’s historical financial statements prior to the Merger has been replaced with the historical financial statements of LJR prior to the Merger. The financial statements after completion of the Merger include the assets, liabilities, and results of operations of the combined company from and after the closing date of the Merger, with only certain aspects of pre-consummation stockholders’ equity remaining in the consolidated financial statements.

OnNOTES ~~September~~TO ~~19,~~CONDENSED ~~2018,~~CONSOLIDATED ~~the~~FINANCIAL ~~Company~~STATEMENTS amended and restated its articles of incorporation of the Company providing for a change in the Company’s name to “Gulf West Security Network, Inc.” The Company also amended and restated its bylaws to reflect the name change.(UNAUDITED)

OnAs ~~December 21, 2020, the Company entered into a share purchase agreement with the sole shareholder and owner~~ of ~~Westech~~September ~~Security and Investigations~~30, ~~Inc.~~2021 (“Westech”). Pursuant to the terms of the share purchase agreement, the sole shareholder of Westech will sell all her shares to the Company in exchange for approximately 66% of the Company’s issued and ~~outstanding~~December ~~shares of common stock (the “Sale”)~~31, to2020 ~~become effective at such time as the articles of merger have been filed. The remaining 34% of the Company’s issued~~ and ~~outstanding~~for ~~shares of common Stock shall consist of presently issued and outstanding shares of common Stock of~~ the ~~Company.~~nine ~~Subsequent~~months ~~to the period~~ ended ~~June~~September 30, 2021, ~~the~~and ~~Company is still in the process of completing this merger transaction.~~2020

~~Change~~Series ofD ~~Fiscal~~Preferred ~~Year~~Stock

On· ~~September~~The ~~28,~~Company ~~2018~~has 1,000 ~~the~~shares ~~Company’s~~of ~~Board~~Preferred ~~approved~~Stock adesignated ~~change~~as inSeries ~~fiscal~~D ~~year~~Preferred ~~end~~Stock. ~~from~~Although ~~September~~the ~~30th~~Series toD ~~December~~Preferred ~~31st.~~Stock ~~The~~have ~~decision~~no tovoting ~~change~~rights, ~~the~~shares ~~fiscal~~of ~~year~~Series ~~end~~D ~~was~~Preferred ~~related~~Stock toin the ~~Merger~~aggregate toare ~~closely~~convertible ~~align~~into fifty million two hundred thirty-three thousand five hundred forty-one (50,239,541) shares of common stock of the Company’s. ~~operations~~Additionally, ~~and~~the ~~internal~~Series ~~controls~~D ~~with~~Preferred ~~that~~Stock ofhas ~~its~~pari ~~wholly~~passu ~~owned~~dividend, ~~subsidiary~~distribution ~~LJR~~and liquidation rights with the common stock.

~~Our~~Stock ~~corporate office is located at 2851 Johnson Street, Unit #194, Lafayette, LA, 70503 and our telephone number is (337) 210-8790.~~Options

~~Critical~~As ~~Accounting~~a ~~Policies~~result of the Reverse Merger the Company has outstanding the following stock options as of September 30, 2021 and ~~Estimates~~December 31, 2020:

Use of Estimates

	September 30, 2021				December 31, 2020
	Stock Options		Weighted Average Exercise Price		Stock Options			Weighted Average Exercise Price

Outstanding - beginning of year		-		-		620,000		$	0.23
Granted		-		-		-			-
Exercised		-		-		-			-
Forfeited		-		-		(620,000	)	$	0.23
Outstanding - end of year		-				-

Exercisable and vested - end of year		-				-

Weighted average remaining term		-				-

Average intrinsic value	$	-			$	-

~~The~~NOTE ~~preparation~~8: ofCOMMITMENT ~~the~~AND unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.CONTINGENCIES

Management makes estimates that affect certain accounts including deferred income tax assets, accrued expenses, fair value of equity instruments and reserves for any other commitments or contingencies. Any adjustments applied to estimates are recognized in the period in which such adjustments are determined.Litigation

~~Recent~~From ~~Accounting~~time ~~Pronouncements~~to time the Company may become a party to litigation in the normal course of business. Management believes that there are no current legal matters that would have a material effect on the Company’s financial position or results of operations.

~~See~~- ~~Note~~20 2- ofTable ~~the accompanying unaudited consolidated financial statements for a discussion~~ of ~~recently issued accounting standards.~~Contents

~~Results~~GULF ofWEST ~~Operations~~SECURITY NETWORK, INC.

~~Three~~NOTES ~~months~~TO ~~ended~~CONDENSED ~~June~~CONSOLIDATED ~~30,~~FINANCIAL ~~2021~~STATEMENTS ~~and 2020~~(UNAUDITED)

WeAs ~~had revenue~~ of ~~$2,757~~September ~~for the three months ended June~~ 30, 2021, asand ~~compared~~December ~~to $3~~31,~~488~~ 2020 and for the ~~three~~nine months ended ~~June~~September 30, ~~2020~~2021 aand ~~decrease of $732.~~2020

~~Cost~~NOTE of9: ~~Revenue~~SUBSEQUENT EVENTS

~~Cost~~In ofaccordance ~~revenue~~with ~~sold~~ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the ~~three~~balance ~~months~~sheet ~~ended~~date ~~June~~but ~~30,~~before ~~2021~~financial ~~was~~statements $1are issued,~~026,~~ asthe ~~compared~~Company tohas ~~$1,038~~evaluated ~~for~~all ~~the~~events ~~three~~or ~~months~~transactions ~~ended~~that ~~June~~occurred after September 30, ~~2020~~2021 up through the date of the these condensed consolidated financial statements.

~~General~~No ~~and~~material ~~Administrative~~events or transactions have occurred during the subsequent event reporting period that required recognition or disclosure in the financial statements.

~~Our~~- ~~general~~21 ~~and~~- ~~administrative~~Table ~~expenses for the three months ended June 30, 2021 were $97,487, a decrease~~ of $103,283, or 51.4%, compared to $200,770 for the three months ended June 30, 2020. General and administrative expenses decreased mainly due to decrease in legal expenses from $75,000 in 2020 to minimal amount in 2021.Contents

5Item ~~Table~~2. Management’s Discussion and Analysis of ~~Contents~~Financial Condition and Results of Operations

~~Sales~~The following discussion and ~~marketing~~analysis of Gulf West Security Network, Inc. f/k/a NuLife Sciences, Inc., a Nevada corporation (“GWSN,” “we,” “us,” “our,” and the “Company”) and its wholly-owned subsidiaries financial condition and results of operations includes information with respect to our plans and strategies for our business and should be read in conjunction with our interim unaudited condensed consolidated financial statements and related notes (“Interim Financial Statements”) included herein, and our consolidated financial statements, related notes, and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020.

~~Our~~Forward-Looking sales and marketing expenses are $0 for the three months ended June 30, 2021 and June 30, 2020. Minimal sales and marketing expenses reflected management’s decision to shift its focus from retail to wholesale alarm operations.Statements

~~Loss~~This quarterly report contains forward-looking statements and information relating to us that are based on the beliefs of our management as well as assumptions made by, and information currently available to, our management. When used in this report, the words “believe,” “anticipate,” “expect,” “will,” “estimate,” “intend”, “plan” and similar expressions, as they relate to us or our management, are intended to identify forward-looking statements. Although we believe that the plans, objectives, expectations and prospects reflected in or suggested by our forward-looking statements are reasonable, those statements involve risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from ~~discontinued~~any ~~operations~~future results, performance or achievements expressed or implied by these forward-looking statements, and we can give no assurance that our plans, objectives, expectations and prospects will be achieved. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

~~Subsequent~~Business to the Merger, management decided to discontinue the activities of NuLife. As a result, we recorded income of $32,163 primarily due to a change in the fair value of a derivative liability. This derivative liability is related to NuLife’s convertible notes assumed by the Company as a result of reverse merger and has been incorporated into liabilities from discontinued operations.Overview

~~Net~~GWSN ~~loss~~and its wholly-owned subsidiaries are principally engaged in the sale, installation, servicing, and monitoring of electronic home and business security and automation systems in the United States.

AsThe aCompany’s ~~result~~retail ofdivision, ~~the~~which ~~foregoing,~~includes ~~for~~its ~~the~~wholly-owned ~~three~~subsidiary, ~~months~~LJR ~~ended~~Security ~~June~~Services, 30Inc., ~~2021~~a Louisiana corporation (“LJR”), weis ~~recorded~~actively aengaged ~~net~~in ~~loss~~the ofengineering, ~~$66~~design,~~446~~ ~~compared~~installation, toremote amonitoring ~~net~~and ~~loss~~after-market servicing of ~~$337,482~~electronic ~~for~~intrusion ~~the~~alert ~~three~~and ~~months~~fire ~~ended~~detection ~~June~~systems ~~30,~~for ~~2020~~homes and businesses (the “alarm industry”).

~~Six~~The ~~months~~Company’s ~~ended~~wholesale ~~June~~division, 30which operates under the name Gulf West Security Network (or “Gulf West”), ~~2021~~is further engaged in the development and ~~2020~~expansion of a proprietary coalition (alliance or network) of independently-branded life safety and property protection providers, fire alert and suppression system installers, electronic remote monitoring and video surveillance specialists, smart home designers, commercial systems integrators, structured wiring professionals and electrical contractors.

WeBoth ~~had~~Gulf ~~revenue~~West ofand ~~$5,298~~LJR ~~for~~are ~~the~~based ~~six~~in ~~months ended June 30~~Lafayette, ~~2021,~~Louisiana asand ~~compared~~were topreviously ~~$6,187~~owned ~~for~~by ~~the~~Louis ~~six~~J. ~~months~~(“Lou”) ~~ended June 30~~Resweber, ~~2020~~ a ~~decrease~~long-time veteran of ~~$889~~the oralarm ~~14.4%.~~industry, ~~The~~who ~~decrease~~has inalso ~~revenue~~previously ~~was~~served ~~due~~as to a ~~lesser~~corporate ~~concentration~~officer, onboard ~~new~~member ~~alarm system sales~~ and ~~installations,~~executive ~~with~~consultant ~~our~~to ~~focus~~a ~~moving~~number ~~more~~of ~~toward~~NYSE ~~alarm system monitoring~~ and ~~the~~NASDAQ-listed ~~corresponding~~public ~~recurring~~companies ~~monthly~~over ~~revenue~~the ~~(RMR)~~past ~~that~~35 ~~is associated with monitoring services~~years.

~~Cost~~Reverse ~~of Revenue~~Merger

~~Cost~~On August 9, 2018, the Board of ~~revenue~~Directors ~~sold~~of ~~for~~the Company through its wholly-owned subsidiary NuLife Acquisition Corp., a Louisiana corporation (“NuLife Sub”), approved and executed an agreement of merger and plan of reorganization with LJR (the ~~six~~“Merger ~~months~~Agreement”). ~~ended~~Pursuant ~~June~~to 30the terms of the Merger Agreement, ~~2021~~NuLife ~~was~~Sub $2merged with and into LJR,~~012~~ with LJR being the surviving entity and becoming a wholly-owned subsidiary of the Company, asand ~~compared~~all toone hundred (100) issued and outstanding shares of common stock of LJR held by the sole stockholder of LJR (“LJR Stockholder”) were exchanged into one thousand (1,000) shares of series D senior convertible preferred stock, par value $20.001 per share (the “Series D Preferred Stock”),~~162~~ ~~for~~of the ~~six~~Company, ~~months~~convertible ~~ended~~into ~~June~~fifty 30million two hundred thirty-nine thousand five hundred forty-one (50,239,541) ~~2020~~shares of common stock of the Company (the “Merger”). In addition, the LJR Stockholder received one share of series C super-voting preferred stock of the Company which granted the holder 50.1% of the votes of the Company at all times. The closing of the Merger, pursuant to the terms and conditions of the Merger Agreement, occurred on October 5, 2018, at which time LJR became a wholly-owned subsidiary of the Company.

~~General~~- ~~and~~22 ~~Administrative~~- Table of Contents

~~Our~~The ~~general~~Merger ~~and~~constituted ~~administrative~~a ~~expenses~~tax-free ~~for~~reorganization within the ~~six~~meaning ~~months~~of ~~ended~~Section ~~June~~368 ~~30,~~of ~~2021~~the ~~were~~United ~~$208,161,~~States aInternal ~~decrease~~Revenue Code of ~~$115~~1986,~~278,~~ oras 35amended.~~6%,~~ ~~compared~~In toaccordance ~~$323,439~~with the accounting treatment for a “reverse merger”, the ~~six~~Company’s ~~months~~historical ~~ended~~financial ~~June~~statements ~~30,~~prior ~~2020.~~to ~~General~~the ~~and~~Merger ~~administrative~~were ~~expenses~~replaced ~~decreased~~with ~~mainly~~the ~~due~~historical financial statements of LJR prior to ~~decrease~~the inMerger. ~~legal~~The ~~expenses~~financial ~~from~~statements ~~$75,000~~after incompletion ~~2020~~of tothe ~~minimal~~Merger ~~amount~~include inthe ~~2021~~assets, ~~decrease~~liabilities, inand ~~audit~~results ~~expense~~of operations of the combined company from ~~$42,645~~and toafter 19the closing date of the Merger,~~425~~ ~~and~~with ~~decrease~~only incertain ~~other~~aspects ~~general~~of ~~expenses~~pre-consummation ~~such~~stockholders’ asequity ~~insurance~~remaining ~~and~~in ~~payroll~~the ~~related~~consolidated ~~benefits~~financial statements.

~~General~~On September 19, 2018, the Company amended and ~~administrative~~restated ~~expenses~~its ~~decreased~~articles ~~mainly~~of ~~due~~incorporation of the Company providing for a change in the Company’s name to ~~timing~~“Gulf ofWest ~~legal~~Security ~~expenses~~Network, ~~wages,~~Inc.” ~~office~~The ~~expenses,~~Company ~~insurance,~~also ~~audit~~amended and ~~accounting~~restated ~~expenses~~its ~~associated~~bylaws ~~with~~to reflect the ~~public~~name ~~company operations~~change.

~~Sales~~Change ~~and~~of ~~marketing~~Fiscal Year

~~Our~~On ~~sales~~September ~~and~~28, ~~marketing~~2018, ~~expenses~~the ~~were~~Company’s ~~minimal~~Board ~~for~~approved ~~the~~a ~~six~~change ~~months~~in ~~ended~~fiscal ~~June~~year ~~30,~~end ~~2021~~from ~~and~~September ~~June~~30th ~~30,~~to ~~2020~~December 31st. ~~Minimal~~The ~~sales~~decision ~~and~~to ~~marketing~~change ~~expenses~~the ~~reflected~~fiscal ~~management~~year end was related to the Merger to closely align the Company’s ~~decision~~operations toand ~~shift~~internal ~~its~~controls ~~focus~~with ~~from~~that ~~retail~~of toits ~~wholesale~~wholly ~~alarm~~owned ~~operations~~subsidiary LJR.

~~Loss~~Acquisition ~~from~~Agreement ~~discontinued~~and ~~operations~~Related Matters

~~Subsequent~~On December 21, 2020, the Company entered into a share purchase agreement with the sole shareholder and owner of Westech Security and Investigations, Inc. (“Westech”). Pursuant to the ~~Merger~~terms of the share purchase agreement, ~~management~~the ~~decided~~sole shareholder of Westech will sell all her shares to ~~discontinue~~the Company in exchange for approximately 66% of the ~~activities~~Company’s issued and outstanding shares of ~~NuLife~~common stock (the “Sale”), to become effective at such time as the articles of merger have been filed. AsThe aremaining ~~result~~34% of the Company’s issued and outstanding shares of common Stock shall consist of presently issued and outstanding shares of common Stock of the Company and the following to be issued in the form of Company’s Series E Preferred Stock, weconvertible ~~recorded~~into ~~income~~one share of $5Company’s common Stock,~~497~~ ~~primarily~~and ~~due~~shall consist of: (i) an exchange of all outstanding preferred stock of the Company, (ii) an exchange of all outstanding loans to the Company which shall either be satisfied or shall convert to Series E Preferred Stock immediately following the closing of the sale so that there are no outstanding loans to the Company at closing of the sale, (iii) a ~~change~~bridge inloan of $500,000 previously made to Westech, which shall convert to Series E Preferred Stock immediately following the ~~fair~~closing ~~value~~of the sale and (iv) an investment of ~~derivative~~$750,000 ~~liability~~into the Company at closing of the sale. ~~This~~In ~~derivative~~connection ~~liability~~with isthe ~~related~~additional $1,250,000, the Company shall issue 1,250,000 shares of Series E Preferred Stock. Furthermore, subject to ~~NuLife~~the approval of Company’s ~~convertible~~shareholder ~~notes~~and ~~assumed~~subject byto discretion of the Board of Directors of the Company, asthe aCompany ~~result~~will ofchange ~~reverse~~its ~~merger~~name to “Westech Security and Investigation, Inc”, increase the number of shares of authorized preferred stock so it has ~~been~~sufficient ~~incorporated~~amount ~~into~~of ~~liabilities~~preferred ~~from~~stock ~~discontinued~~to ~~operations~~undertake the transactions contemplated by the sale; and undertake a 1-for-187 reverse stock split of its shares of common stock. Subsequent to the period ended September 30, 2021, the Company is still in the process of completing this merger transaction.

~~Net~~On ~~loss~~April 7, 2021, the Board of Directors of the Company approved the amendment of articles of incorporation to change the name to “Westech Security and Investigation, Inc., increase the number of authorized shares to 500,000,000 shares of common stock and 50,000,000 shares of preferred stock and effect a reverse stock split of the issued and outstanding common stock at a range of 1-for-200 to 1-for-250. These amendments were also approved by the written consent of the holder of the one share of Series C Preferred Stock based on a vote of 50.1% of the outstanding voting stock of the Company. The amendment will be effective upon filing of such amendment to the articles of incorporation with the Secretary of State of Nevada.

AsOur acorporate ~~result~~office ofis ~~the~~located ~~foregoing,~~at ~~for~~2851 ~~the~~Johnson ~~six~~Street, ~~months~~Unit ~~ended June 30~~#194, ~~2021~~Lafayette, ~~we recorded a net loss of $205~~LA,~~029~~ ~~compared~~70503 toand aour ~~net~~telephone ~~loss~~number ofis ~~$429,290~~(337) ~~for the six months ended June 30, 2020~~210-8790.

~~Liquidity~~Critical ~~and~~Accounting ~~Capital~~Policies ~~Resources~~and Estimates

AtUse ~~June 30, 2021, the Company had $4,589 cash. The Company has limited commercial experience and had a net loss from continuing operations~~ of $210,526 for the six months ended June 30, 2021, and an accumulated deficit of $3,284,889, and a working capital deficit of $2,922,427 at June 30, 2021. The Company’s condensed consolidated financial statements are prepared using accounting principles generally accepted in the United States (“U.S. GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs and to allow it to continue as a going concern. The accompanying condensed consolidated financial statements for the six months ended June 30, 2021, have been prepared assuming the Company will continue as a going concern.Estimates

~~We do not believe that we have enough cash on hand to operate of business during the next 12 months.~~ The ~~Company~~preparation ~~will require additional financing to fund its future planned operations, including research and development and commercialization~~ of ~~its products. To date,~~ the ~~Company~~unaudited ~~has~~condensed ~~financed~~consolidated ~~its~~financial ~~operation~~statements ~~primarily~~in ~~from~~conformity ~~advances~~with ~~from~~accounting ~~its~~principles ~~affiliates~~generally ~~and~~accepted ~~we expect to finance the operations~~ in the ~~same~~United ~~way~~States inrequires ~~the~~management ~~near~~to ~~future.~~make Asestimates ~~of June 30, 2021~~ and ~~December~~assumptions ~~31,~~that ~~2020,~~affect the ~~Company~~reported ~~has~~amounts ~~received~~of ~~advances~~assets ~~totaling $1,818,666~~ and $1liabilities,~~728,166,~~ ~~respectively, from its affiliates. The formal structure~~ and ~~payment~~disclosure ~~terms~~ of ~~these~~contingent ~~advances~~liabilities ~~have~~at ~~not yet been determined by~~ the ~~Company~~date ~~and~~of the ~~third~~condensed ~~parties.~~consolidated Wefinancial dostatements ~~not~~and ~~have~~the ~~verbal~~reported oramounts ~~formal~~of ~~contracts~~expenses ~~with~~during ~~our~~the ~~affiliates~~reporting ~~obligating~~period. ~~them~~Actual toresults ~~loan~~could ~~funds~~differ tofrom usthose estimates.

6Management ~~Table~~makes estimates that affect certain accounts including deferred income tax assets, accrued expenses, fair value of ~~Contents~~equity instruments and reserves for any other commitments or contingencies. Any adjustments applied to estimates are recognized in the period in which such adjustments are determined.

WeRecent ~~may~~Accounting seek to raise additional funding that we require in the form of equity financing from the sale of our common stock. However, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our operations. We currently do not have any agreements or arrangements in place for any future financing.Pronouncements

~~Operating~~See ~~Activities~~Note 2 of the accompanying unaudited consolidated financial statements for a discussion of recently issued accounting standards.

~~During~~Results ~~the six months ended June 30, 2021, we used $97,476~~ of ~~cash in operating activities primarily as a result of our loss of $205,029 from operations, offset by net changes in working capital items of operating assets and liabilities of $113,050.~~Operations

~~During~~Three ~~the six~~ months ended ~~June~~September 30, ~~2020,~~2021 ~~we used $441,295 of cash in operating activities primarily as a result of our loss of $429,290 from operations, offset by net changes in working capital items of operating assets~~ and ~~liabilities of $86,589.~~2020

~~Financing~~Total ~~Activities~~Revenue

~~During~~We had revenue of $2,647 for the three months ended ~~June~~September 30, 2021, ~~financing~~as ~~activities~~compared ~~provided~~to $902,~~500~~831 infor ~~proceeds~~the ~~from~~three amonths ~~bridge~~ended ~~loan~~September ~~and~~30, ~~provided~~2020, a decrease of $~~1,408~~184 or 6.5%. This decrease in ~~advances~~revenue was due to a reduction in revenue from monitoring and related ~~party~~services between the two periods.

~~During~~- ~~the~~23 ~~six~~- ~~months~~Table ~~ended~~of ~~June 30, 2020, financing activities provided $224,628 in proceeds from a bridge loan and advances from related party.~~Contents

~~Off-Balance~~Cost ~~Sheet~~of ~~Transactions~~Revenue

AtCost ~~June~~of revenue sold for the three months ended September 30, 2021 was $969, as compared to $1,077 for the ~~Company~~three ~~did~~months ~~not~~ended ~~have~~September ~~any~~30, ~~transactions~~2020, ~~obligations~~a decrease of $108 or ~~relationships~~10%. ~~that~~This ~~could~~decrease bein ~~considered~~cost ~~off~~of revenue was a result of several cost-~~balance~~cutting ~~sheet~~measures ~~arrangements~~put into place by management during the current fiscal year.

~~Item~~General ~~3. Quantitative~~ and ~~Qualitative Disclosure About Market Risk~~Administrative

AsOur ageneral ~~smaller~~and ~~reporting~~administrative ~~company~~expenses for the three months ended September 30, we2021 ~~are~~were ~~not~~$83,316, ~~required~~a decrease of $165,458, or 66.5%, compared to ~~provide~~$248,774 for the ~~information~~three ~~required~~months ended September 30, 2020. General and administrative expenses decreased mainly due to a decrease in legal expenses from $148,158 in 2020 to a minimal amount in 2021, as well as slight decreases in in other general and administrative expenses as a result of several cost-cutting measures put into place by ~~this~~management ~~Item~~during 3the current fiscal year.

~~Item~~Sales ~~4. Controls~~ and ~~Procedures~~marketing

~~Evaluation~~Our ofsales ~~Disclosure~~and ~~Controls~~marketing expenses for the three months ended September 30, 2021 were $0, compared to $0 for the three months ended September 30, 2020. Minimal sales and ~~Procedures~~marketing expenses reflected management’s decision to shift its focus from retail to wholesale alarm operations.

AsLoss offrom ~~the~~discontinued end of the period covered by this Form 10-Q, management performed, with the participation of our principal executive officer and principal financial officer, an evaluation of the effectiveness of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”). Our disclosure controls and procedures are designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, to allow timely decisions regarding required disclosures. Based on the evaluation, our principal executive officer and principal financial officer concluded that, as of June 30, 2021, our disclosure controls and procedures were not effective.operations

~~Due~~Subsequent to ~~resource constraints, material weaknesses are evident to management regarding our inability to generate all~~ the ~~necessary disclosure for inclusion in our filings with the Securities and Exchanges Commission~~Merger, ~~which is due to~~ the ~~lack~~Company ofterminated ~~resources~~ and ~~segregation~~discontinued ofall ~~duties. We lack sufficient personnel with the appropriate level~~ of ~~knowledge,~~its ~~experience~~operations ~~and~~conducted ~~training~~prior ~~in GAAP~~ to ~~meet~~ the ~~demands~~Merger ~~for a public company, including~~ (the ~~accounting~~“NuLife ~~skills~~Business”) and ~~understanding~~continued ~~necessary~~operations toof ~~fulfill~~ the ~~requirements~~acquired ~~of GAAP-based reporting~~business. ~~This~~As ~~weakness~~a ~~causes~~result, uswe torecorded ~~not~~a ~~fully~~loss ~~identify~~of ~~and~~$37,093, ~~resolve~~during ~~accounting~~the ~~and~~three ~~disclosure~~months ~~issues~~ended ~~that~~September ~~could~~30, ~~lead~~2021, compared to a ~~failure~~loss toof ~~perform~~$57,016, ~~timely~~during ~~internal~~the ~~control~~three ~~and~~months ~~reviews.~~ended InSeptember ~~addition~~30, ~~the Company has not established an audit committee~~2020, ~~does~~primarily ~~not~~due ~~have~~to ~~any~~a ~~independent~~change ~~outside~~in ~~directors on~~ the ~~Company’s~~fair ~~Board~~value of ~~Directors,~~a ~~and~~derivative ~~lacks documentation of its internal control processes~~liability.

~~Changes~~Net ~~in Internal Control over Financial Reporting~~loss

~~There~~As ~~were~~a noresult ~~changes~~of inthe foregoing, for the ~~Company’s~~three ~~internal~~months ~~control~~ended ~~over~~September ~~financial~~30, ~~reporting~~2021, ~~during~~we recorded a net loss of $121,893 compared to a net loss of $254,792 for the ~~quarter~~three months ended ~~June~~September 30, ~~2021~~2020, ~~that~~a ~~have~~decrease ~~materially~~of ~~affected~~$132,899 or ~~are~~52.2%. ~~reasonably~~This ~~likely~~decrease toin ~~materially~~net ~~affect~~loss was primarily a result of the decrease in total revenue, along with the significant decrease in legal expenses, mentioned above, as well as all of the Company’s ~~internal~~other ~~control~~cost-cutting ~~over financial reporting~~measures.

7Nine ~~Table~~months ofended ~~Contents~~September 30, 2021 and 2020

~~PART~~Total ~~II – OTHER INFORMATION~~Revenue

~~Item~~We had revenue of $7,944 for the nine months ended September 30, 2021, as compared to $9,018 for the nine months ended September 30, 2020 a decrease of $1,074 or 11.9%. ~~Legal~~The ~~Proceedings~~decrease in revenue was due to a lesser concentration on new alarm system sales and installations, with our focus moving more toward alarm system monitoring and the corresponding recurring monthly revenue (RMR) that is associated with monitoring services.

WeCost are not currently a party to any pending legal proceedings that we believe will have a material adverse effect on our business or financial condition. We may, however, be subject to various claims and legal actions arising in the ordinary course of ~~business from time to time.~~Revenue

~~Item~~Cost 1Aof revenue sold for the nine months ended September 30, 2021 was $2,981, as compared to $3,239 for the nine months ended September 30, 2020, a decrease of $258 or 8%. ~~Risk~~This ~~Factors~~decrease in cost of revenue was a result of several cost-cutting measures put into place by management during the current fiscal year.

~~Not~~General ~~required~~and ~~for smaller reporting companies.~~Administrative

~~Item~~Our 2.general ~~Recent~~and ~~Sales~~administrative ofexpenses ~~Unregistered~~for ~~Securities;~~the ~~Use~~nine months ended September 30, 2021 were $291,474, a decrease of ~~Proceeds~~$280,739, or 49.1%, compared to $572,213 for the nine months ended September 30, 2020. General and administrative expenses decreased mainly due to decrease in legal expenses from ~~Registered~~$223,158 ~~Securities~~in 2020 to a minimal amount in 2021, as well as decreases in other general and administrative expenses as a result of several cost-cutting measures put into place by management during the current fiscal year.

~~None.~~- 24 - Table of Contents

~~Item~~Sales 3.and ~~Defaults Upon Senior Securities~~marketing

~~None~~Our sales and marketing expenses for the nine months ended September 30, 2021 were $0, compared to $26 for the nine months ended September 30, 2020. Minimal sales and marketing expenses reflected management’s decision to shift its focus from retail to wholesale alarm operations.

Loss from discontinued operations

Subsequent to the Merger, the Company terminated and discontinued all of its operations related to its NuLife Business and continued operations of the acquired business. As a result, we recorded a loss of $31,598, during the nine months ended September 30, 2021, compared to a loss of $157,757, during the nine months ended September 30, 2020, primarily due to a change in the fair value of a derivative liability.

Net loss

As a result of the foregoing, for the nine months ended September 30, 2021, we recorded a net loss of $326,922 compared to a net loss of $684,082 for the nine months ended September 30, 2020, a decrease of $357,160 or 52.2%. This decrease in net loss was primarily a result of the decrease in total revenue, along with the significant decrease in legal expenses, mentioned above, as well as all of the Company’s other cost-cutting measures.

Liquidity and Capital Resources

At September 30, 2021, the Company had $7,220 cash. The Company has limited commercial experience and had a net loss from continuing operations of $295,324 for the nine months ended September 30, 2021, and an accumulated deficit of $3,406,782, and a working capital deficit of $3,044,320 at September 30, 2021. The Company’s condensed consolidated financial statements are prepared using accounting principles generally accepted in the United States (“U.S. GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs and to allow it to continue as a going concern. The accompanying condensed consolidated financial statements for the nine months ended September 30, 2021, have been prepared assuming the Company will continue as a going concern.

We do not believe that we have enough cash on hand to operate of business during the next 12 months. The Company will require additional financing to fund its future planned operations, including research and development and commercialization of its products. To date, the Company has financed its operation primarily from advances from its affiliates. As of September 30, 2021 and December 31, 2020, the Company has received advances totaling $1,839,666 and $1,728,166, respectively, from its affiliates. The formal structure and payment terms of these advances have not yet been determined by the Company and the third parties. We do not have verbal or formal contracts with our affiliates obligating them to loan funds to us.

We may seek to raise additional funding that we require in the form of equity financing from the sale of our common stock. However, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our operations. We currently do not have any agreements or arrangements in place for any future financing.

Operating Activities

During the nine months ended September 30, 2021, we used $115,027 of cash in operating activities primarily as a result of our loss of $326,922 from operations, offset by net changes in working capital items of operating assets and liabilities of $180,297.

During the nine months ended September 30, 2020, we used $811,417 of cash in operating activities primarily as a result of our loss of $684,082 from operations, offset by net changes in working capital items of operating assets and liabilities of $113,300.

- 25 -

Table of Contents

Financing Activities

During the nine months ended September 30, 2021, financing activities provided $111,500 in proceeds from a bridge loan and used $2,320 in advances from related party.

During the nine months ended September 30, 2020, financing activities provided $492,725 in proceeds from a bridge loan, provided $5,674 advances from related party and used $20,010 in redemption of preferred stock.

Off-Balance Sheet Transactions

At September 30, 2021, the Company did not have any transactions, obligations or relationships that could be considered off-balance sheet arrangements.

Item 3. Quantitative and Qualitative Disclosure About Market Risk

As a smaller reporting company, we are not required to provide the information required by this Item 3.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this Form 10-Q, management performed, with the participation of our principal executive officer and principal financial officer, an evaluation of the effectiveness of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”). Our disclosure controls and procedures are designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, to allow timely decisions regarding required disclosures. Based on the evaluation, our principal executive officer and principal financial officer concluded that, as of September 30, 2021, our disclosure controls and procedures were not effective.

Due to resource constraints, material weaknesses are evident to management regarding our inability to generate all the necessary disclosure for inclusion in our filings with the Securities and Exchanges Commission, which is due to the lack of resources and segregation of duties. We lack sufficient personnel with the appropriate level of knowledge, experience and training in GAAP to meet the demands for a public company, including the accounting skills and understanding necessary to fulfill the requirements of GAAP-based reporting. This weakness causes us to not fully identify and resolve accounting and disclosure issues that could lead to a failure to perform timely internal control and reviews. In addition, the Company has not established an audit committee, does not have any independent outside directors on the Company’s Board of Directors, and lacks documentation of its internal control processes.

Changes in Internal Control over Financial Reporting

There were no changes in the Company’s internal control over financial reporting during the quarter ended September 30, 2021 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

- 26 -

Table of Contents

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

We are not currently a party to any pending legal proceedings that we believe will have a material adverse effect on our business or financial condition. We may, however, be subject to various claims and legal actions arising in the ordinary course of business from time to time.

Item 1A. Risk Factors

Not required for smaller reporting companies.

Item 2. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None

8- 27 - Table of Contents

Item 6. Exhibits

Exhibit No.		Description of Exhibit
31.1 *		Rule 13a14(a)/15d-14(a) Certification of Principal Executive Officer
31.2 *		Rule 13a14(a)/15d-14(a) Certification of Principal Financial Officer
32.1 *		Section 1350 Certification of Principal Executive Officer/Principal Financial Officer
32.2		Section 906 Certification of Principal Executive Officer/Principal Financial Officer
101.INS**		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)
101.INS**		XBRL Instance Document
101.SCH**		Inline XBRL Taxonomy Extension Schema Document
101.SCH**		XBRL Taxonomy Extension Schema Document
101.CAL**		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.CAL**		XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB**		Inline XBRL Taxonomy Extension Label Linkbase Document
101.LAB**		XBRL Taxonomy Extension Label Linkbase Document
101.PRE**		Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.PRE**		XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF**		Inline XBRL Taxonomy Definition Linkbase Document
101.DEF**		XBRL Taxonomy Definition Linkbase Document
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

* Filed herewith ** Furnished herewith (not filed)

**- ~~Furnished~~28 ~~herewith~~- ~~(not~~Table ~~filed)~~of Contents

~~9 Table of Contents~~SIGNATURES

~~SIGNATURES~~Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	GULF WEST SECURITY NETWORK INC.

Date: November 12, 2021	By:	s/ Louis J. Resweber
		Louis J. Resweber
		President (Principal Executive Officer) (Principal Financial and Accounting Officer)

	GULF WEST SECURITY NETWORK INC.
Date: August 16, 2021	By:	/s/ Louis J. Resweber
		Louis J. Resweber
		President
		(Principal Executive Officer)
		(Principal Financial and Accounting Officer)

- 29 -

Filing Compare · Gulf West Security Network, Inc.